Gastro, anything's possible of course.
" That would be lights out about now", which leads me to believe a deal is imminent."
I'm leaning more towards the Lincoln camp. I think they're using Lincoln presently to "keep the lights on" but desperately need a "big deal" like the secondary to get an expensive phase II off the dime and moving. That's essentially what their "pitch" has been in the slide-show and all.
The secondary is what they're after IMO (they've spent a lot in fees and legal to get that $100 million shelf drafted and posted and then the prospectus, hire underwriters and all; it ain't cheap to get that far along).
Unless of course a "deal" has materialized- which would be the magic rabbit being pulled out of the hat.
I see a lower than "planned" priced secondary (the bitter pill, but one that gets the ship off bottom and moving) as the "short odds" and some "partner deal" or other form of "large" cash infusion as the "long odds" game IMO.
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