Yes, valid question/s and could be that additional

Yes, valid question/s and could be that additional dilution is needed before a milestone payment is received (assuming the non-binding deal is closed). Personally, I figured additional dilution when I invested and if a deal is closed with "significant milestone" payments is closed in 4Q 2019 as NP has stated several times, then there is very little dilution left to get to that point. The fact that we are close to BLA submission and roughly 6 months from approval and combo HIV revenue....with a license deal that includes significant milestone payments makes me excited! With a license deal, financing concerns should be resolved and commercialization taken care of.....these are the only real concerns I have about further dilution. Also, revenues in 2Q 2020 should be more robust out of the gate with a license deal, but even if not significant at launch, should grow and support CYDYs recent cash burn of $4-5M/month (expect it to be a little higher once mono pivotal trial is initiated, but also reduced as they expect current inventory costs to be lower with the Samsung deal).

This doesn't account for what I also expect in 4Q 2019 of positive interim cancer results and Dr. Sacha making news with his HIV PrEP and cure research. If leronlimab has success in humans, as NP stated all the cancer companies will be nervous....this will be worth multiples of the current $150M market cap alone.

What's not to get excited about, many have been waiting much longer than me for NP to announce even a non-binding agreement for HIV.....and we only have to wait two more days for some details!

Please do your own due diligence. All my posts and comments are not to be considered investment advice.