OCAT did exactly that -- they kept borrowing to ke

OCAT did exactly that -- they kept borrowing to keep their clinical trial going. And MAKO attacked them and drove their price down. But they had several bad CEO's who wasted money and were replaced, until they found a good one who brought the clinical trial to a successful conclusion -- results being announced 4 days after Adam Feuerstein tweeted that he had advance information that the clinical trial failed. The stock was hammered, and after the great results recovered somewhat. But, because of the huge debt load they had, they had to take a horrible deal that screwed most of the longer-term shareholders into losing money. This happened mostly because of the Mako attacks on the company (and also because of the bad CEOs).

IPIX is in another category entirely. No debt. Good CEO. Can't be forced into the position OCAT was in -- which was, take a bad deal, or go bankrupt.

"Coincidentally" OCAT is also headquartered in Beverly, MA.