I concur the recent placement wasn't necessary or ideal but there were strategic considerations involved (including ones we might not be aware of) and other reasons that I'll leave to those privy or smarter.
The latest options issue isn't as material fortunately but is consistent with practices of other biotechs or growing companies wishing to preserve cash for future requirements, like other companies who issue options in lieu of say director fees (in many of those cases, the exercise price is set at nil, whereas we are talking about an exercise price around 37c and is issued at market value instead of a discount or free).
It's not healthy as shareholders to query every small operational decision, including consultant, advisor or third party utility services engaged. There are naturally strategic rationales for options, including alignment, incentivising and retention. Who knows.. this consultant might be trying to help us get an ATI deal over the line through their relationships or advising/ensuring we are prepared to get Remplir over the line in the USA (which I'd happily pay this small amount, if so)?
Just saying we don't know about every strategic and operational matter, and frankly I'm not gonna lose sleep and just let the company run accordingly. They've been hitting milestones methodically but the SP hasn't re-rated yet but I'm hopeful it will). If we don't like what we see, then we should vote with our feet.
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