It was a shelf offering and not that large. I don't see it as a problem if the company brings in additional funds. I believe it makes them stronger in negotiating a partnership for ROW rights to IMGN853 which they've made it clear that in time they want. Personally I hope they keep all of North America, but I believe they'd be quite satisfied just to have the U.S. to themselves, and it really doesn't make that big a difference in the amount of drug that will be sold.

The last time I saw figures, the U.S. represents something like 5% of the world's population, but we spend something like 35% of what the rest of the world spends on healthcare.

Gary