IMHO: It looks like they've decided not to partner for "awhile" and instead hang on to the future cash flow. This shows a confident and positive management. They feel that future earnings will outweigh this relatively small dilution.
I am not a Conspiracy Theorist, but obviously news leaked out. On the bright side, this should stabilize the stock price: at a lower level than most of us would like, but I can't see it going much lower.
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