This makes a lot of sense if the company had been talking to JCR...

This makes a lot of sense if the company had been talking to JCR about monetising its Temcell royalty receipts, @Phardrus. Particularly in light of the curious choice of words “financing transaction” in the halt announcement. It would seem to be a bold move to address the 2 years’ cash flow goal but really as you inferred in another post, the royalties stream is the elephant in the room. Getting JCR interested once the (underwritten) cap raise is out of the way, or to invest even as it now happens, would likely take not much more than a nudge and make a lot of sense. It would badly injure the shortsellers, but as becomes increasingly evident to the market, their point of view is rapidly losing currency anyway as the tide at the FDA turns. They would become a side-show although I hate to think of the initial shortcovering that might need to be done if the financing transaction were, as seems increasingly plausible to us, more wide ranging than just the cap raise.

Additionally, any monetisation done at the level of the royalty stream will create a really tidy structure for future development/commercialisation cash once it is in place. It will give the company flexibility to manage the revenue lifecycle of different indications and create value out of a steady income stream that one does not normally associate with a biotech. Additionally, the partnership with JCR will become closer.

As for the elusive partnership that is really impactful, it is not inconceivable that something could emerge from the field of the existing allies or new ones, when the signal from the company, in front of its lawyers, is that an approval is imminent and not just hype.

Not much longer to wait now.