RE:So...You got that right.
Despite how much we all puked on that management decision, Theralase management are very lucky (alongside all shareholders) that the decision to finance was made at that time. I don't give management any credit to have foreseen the onset of a black swan like CV but I think they saw that their backs were against the wall and they had no options but to strike some sort of deal at the time they did, $hitty as it was. Personal survival was the motivating factor for management and all their high salaries. Let's just call the timing of the financing as being extremely lucky in context to today. Sometimes it's better to be lucky than smart and that is what has happened here. In my personal estimation, if this financing had not been made at the time they did, Theralase likely would have gone under with no ability to finance the company or the Phase 2 trial in this "new normal" CV financial environment.
Now that Theralase management have been lucky enough to have been dealt "two pair" in this game of financial poker due to the financing, their/our chances of success are high but they will need to execute flawlessly going forward to win the pot.