Sorry if this has been discussed before, but is it possible the increase in share count is to clear the way for a partnership? We currently have 1.25 billion outstanding with 1.75billion issued shares which leaves a 30% max ownership if a deal is offered with shares, when the issued shares increses to 2.25 billion about 55% is possible. AI came back with this:

Making a deal more attractive: Some partnership deals include a stake in the biotech as part of the upfront payment. Issuing additional shares can facilitate this arrangement and provide the partner with an equity position.

Maybe the s3 is purely for funding and the share increase is to provide enough available shares for a large commitment from a partner? I would think a partner would want to have a financial stake that enables a board seat at minimum.

Just a thought