I am also okay with the offering. Of course, I like may others would have liked to see the price continue to rise and no dilution, but it's not always like that in the market - that's why it's always good to take some off the table when given the opportunity, and have a plan if things turn south.
Form 6k put out recently by the company also does state that the possibility existed for the additional equity offering (see below). I believe they just took advantage of a future need due to the quick rise in price - maybe after being prompted by Piper. It's also possible that they have other things in the works that we just don't know about yet - pure speculation though. They are in a better position now and am glad that it was only for 2.5 million shares - I actually thought that whenever they would do it it would be larger.
From Form 6k
We are unable to estimate the amounts of increased capital outlays and operating expenses associated with completing the development of VB-111 and our other product candidates. Our future capital requirements will depend on many factors, including:
? the costs, timing and outcome of regulatory review of VB-111 and any other product candidates we may pursue;
? the costs of future development activities, including clinical trials, for VB-111 and any other product candidates we may pursue;
? the costs of preparing for, the resources required for, and the execution of the commercialization of VB-111 and any other candidates we may pursue;
? the costs of preparing, filing and prosecuting patent applications, maintaining and enforcing our intellectual property rights and defending intellectual property-related claims;
? the extent to which we acquire or in-license other products and technologies; and
? our ability to establish any future collaboration arrangements on favorable terms, if at all.
Until such time, if ever, as we can generate substantial product revenue, we expect to finance our cash needs through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. We do not have any committed external source of funds.
