RE:RE:RE:RE:RE:RE:RE:Low Share Price Because... Sure, I can give you my working hypothesis.
they redacted the deal but when the last financing was done, I noticed in the press release it made claim that baxter was giving them a portion of the next possible payment now to help move them along. I also noticed it was done as a convertible debenture so that's what makes me think it will be one down the road... it also makes me think it takes away from whatever they could get...
given that this company spent over 100m and forked over exclusivity for $5 million (and we've spent another 40 million to get to interim enrolment) + a potential future payment down the road leads me to believe that the number is quite low and poorly negotiated. My guess which could be completely wrong... is another 5 million... or let's say 10 to be very optimistic.. minus the 2.5 we already got... leaves us with 2.5 or 7.5... 3-9 months of burn...
it's just an educated guess.
you have a better one?