Palatin Technologies Inc. (PTN)

[salgovernale69]

Wrong. Clearly a deal is already done and the reason they only raised 3 months worth of cash was to get through the due diligence period of the acquirer/licensor. To raise only three months cash if there was even a 1% chance they'd have to raise again in 2-3 months would be borderline criminal and open themselves up to a world of distrust and pain. Zero chance that's even a question IMO. I'd bet anything that a term sheet/letter of intent was already signed when they did the raise. Usually these LOIs are followed by 45 days minimum of a due diligence period for both sides, meaning it would have been egregious for management to only raise 90 days cash if a deal wasn't already done. Zero question whatsoever that a deal is done, and will likely be announced within 4-6 weeks max, but really could be anytime.