It is NOT dilution until shares are accessed and s

It is NOT dilution until shares are accessed and sold. This is a shelf registration and agreement with Aspire, which, IF IT SHOULD BE NEEDED, can be accessed INCREMENTALLY.

There are not going to be tens of millions of shares dumped on the market. Mr. Ehrlich has carefully shepherded the past financing deals so that there has been remarkably little dilution as compared to other small biotechs. He is well aware of how toxic financing can kill companies, and he is most certainly not going to access this financing until and unless the company needs it.

But what it DOES do, is put the company in a much stronger bargaining position when negotiating a deal. If a company's back is to the wall, make a deal or die, do you think that a Big Pharma is going to offer top dollar?

But if the company can say "Fine, we've got 75 million in financing that we can do, and we'll just keep going with clinical trials until someone else makes an offer" -- do you think that Big Pharma is going to stand on a lowball offer, or will they up the ante.