LimboPretty sure that private placement participants sold shares to finance new shares with warrants attached - but the share price suffered in the process down to a level where the private placement cannot be closed because it makes no sense selling anymore - and the rest of the market has bought enough shares. We're in limbo.
Howard needs to step down in order to increase the share price and secure the cashflow needed. Convince Abbvie to finally launch the product is also a viable option.