“because over the next 3 months more than 50% of them will slip...

“because over the next 3 months more than 50% of them will slip down the list for very serious investors to take their position”

I am not sure what you mean. There is only three ways that the top 20 shareholders will slip down the list.
1 this would be a placement to fund the 40 new patient which I would assume would be at a substantially higher placement than currently is and maybe some top 20 shareholders would sell into a substantially high price.

2. PTX has a very open top 20 register I think 17% from memory. So anyone wanting a large quantity of shares will buy on the market thus pushing the price up.

3. I think current top 20 shareholders have been in for a long time and they have the patience and also see the finishing line inside so why would they sell? Unless the price is hugely higher? They have been in it for a big payday high risk high return so my bet is they will not lose their patience.