placement?

I do know PTD, having performed calculations as to timing of earlier placements. This was important with the present dispute going on.

However, I don't hold shares anymore.

PTD should be forced to write quarterly reports as many Bios do; that makes it easier getting an updated version of the cash.

On 31 March, PTD had $13.6 mill cash. Cash outflow was $8.7 mill. for those 6 months. So, at the end of Nov., some 8 months later, the estimated cash outflow could be approx. 8/6 * $8.7 mill or $ 11.6 mill, could be even $12 mill with this dispute going on.

That would leave at the most $13.6-$11.6=$2 mill.

Companies raise cash before it runs out; PTD also has to show to J&J that it has the financial clout, so, yes, I would bet on a placement.

That is my opinion,

Gerry