Avid Bioservices Inc (CDMO)

[exwannabe]

Are there any other theories that I missed?

A slight variation of 6, funding existing trials AND trials that been described (at least one smallish combo and one large trial).

If SUNRISE does not hit 2nd I/A, and runs a modest bit long, that could mean well into '17 'till data. With the extra trials, 100M will certainly not be unreasonable. With $80M preferred and $20M common that is something like 130M shares reserved or sold at current prices. Then some fudge for uncertainties and price variability. And of course some for management/BoD.