I expect another CR before the end of this year.
LC has alway raised capital before it became urgent to do so. She won't let the company come within 12 months of the tank running dry. In the recent LC and PH interview, PH stated that raising capital for biotech is getting easier again - which sounded like a big hint to me.
My best guess is that they will do an update on the Vaxinia MAST trial data, assuming that the data is good news - and possibly announce the second expansion cohort - then do a CR from institutional investors off the back of that. An update on Azercabtagene or the first cut of data from the Oncarlytics OASIS trial are also possible triggers for the CR.
CR's are never popular in the short term but that's the game we are in. The prize remains the same, and the path to that prize takes money.
Cheers
Dave
(20min delay)