Please correct me if I'm wrong. Part of the IB's duty is to find out how much support the stock has or IOW how much can we dilute at. Then it is the company's decision to choose whether to do it at the price the IB said it can sell.
So in the case of a weak price support, the decision of mgt to go ahead is not so much to put down its current "shareholders". It may be that the company needs to replenish its cash to move forward its pipeline. Any so called "investors" in these biotech companies ought to know that, beside the absolute fact that they are "shareholders" today and gone tomorrow. Personally I don't feel insulted by these dilutions as I think it is my DD to be aware about them.
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