$50 million is a WAG roughly based on what I assume would be a major push to increase manufacturing capacity, pursue regulatory approvals and hire a bunch of people to run the company. It's also roughly in line with what other similarly situated biotechs go out and raise (less than most, actually). <br /> <br /> But even if it was $25 million, I don't think they could do an offering without raising the authorized share amount, even if they technically had a little bit of room. <br /> <br /> I'm not disagreeing with you that it looks like the company doesn't plan to be around for much longer. They certainly could be planning to sell or enter into some kind of partnership agreement. At this point, I don't have any conviction one way or another about what I think is going to happen, other than I think DCVAX-L will eventually get approved. <br /> <br /> The thing is, DCVAX-L can get approved, be incredibly beneficial to certain patients and be a tremendous accomplishment from a science and technology perspective without the stock price going up significantly in the near term. I think a lot of people on this message board don't understand this. Of course, I hope I'm wrong and that the market immediately reflects other indications like it has for NVCR...it certainly could, maybe even should. But we have a market cap today of $1.2 billion (not including over 500 million of outstanding derivative securities). The company told us they can produce 500 vaccines a year and then said they plan to utilize the rest of the Sawston space for 3rd party contract manufacturing in the near term. So if the company's revenues are expected to be around $100 million per year for the next couple years, are we going to see $6 per share anytime soon? I don't think so, but I hope I'm wrong. Actually, I hope for a buyout because that would be in societies best interest.