That's a very good question
@RiverDryIt's worth checking the terms of IMU's Convertible Note financing transaction with Susquehanna /CVI , where a Change of Control is triggered, (see below) to anticipate what may happen if the money does in fact start to run out.
Sadly today we have seen what can happen when a biotechs clinical trial fails (OPT), and SH'rs only now understanding the consquences of a funding arrangement the company previously undertook. Shareholder value looks like being entirely wiped out. You have to feel sorry for those investors, it could happen to any of us.
Despite what one of the resident pumpers here continually proclaims as this being very good deal, it has many trapdoors that will only become apparent if the SP fails to appreciate and/or trials results are delayed or poor.
(20min delay)