You said def NOT 100% correct yet by your own admission you don't know.
It is very unlikely that a top 20 Pharma funding Ph2 will allow those funds to be used for any other purpose. Funds provided will be for ph2 alone. Other revenue will be required and that will be be potentially options exercise plus CR or huge CR on its own. Getting funding before options expiry is important but not the end of the world. The issue is that they either get the majority of funds at 3c via option exercise or potentially have to raise closer to 2c with greater dilution. I am usure if they have anything else to help get the options over the line? I am thinking not.
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