RE:The deal is costing a lotAlain,
You numbers are right, and yes this is dilution.
On a strict analysis of number, Thomvest just made a very good deal.
Does PLI just made also a good deal? I would say yes, no matter the real cost.
PLI is in negociation for monetize part of their IP (4050, plasminogen).
Now they are sitting at the table with enought cash ahead, they look this morning less vulnerable and this could also lead to "less dilution of assets" when the time will come to sign a deal.
Time will tell, but I still rather like to see dilution at this time, then looking vulnerable.
Cheers!