RE: quick fyi... I think the company was boxed in.
You need earnings to get a revolver or pledge assets. The new manufacturing plant probably has covenants not to be pledged on because of all the government financing.
I wonder if they went to Endo at all. One would think they are banking on milestones and partnerships to payback governtment and this new loan. The problem is if Urocidin backfires, your looking at trouble.