It must be another biotech company that launched a preferred share offering and the buyers need to hedge their purchase. See March 2014 in PPHMland for a textbook example.
That is funny. I read that article early this morning and just commented on it before realizing that you had posted about it.
Even for a drug which has had no human trials, the company has more collaborations, partnerships and a higher Valuation than what Peregrine has been able to do in the last three decades.
Did anyone listen to the Moderna CEO interview on CNBC this afternoon? I thought that the CEO made it clear that the many ideas extant have not gotten off the ground yet in clinical trials, not to mention pre-clinical trials, notwithstanding MRK and AZN in the wings.