Look, it is simply that they wanted to start these recently announced trials at end of this year. They wanted the cash available before starting the trials and do not want to drop their cash position so that there is a going concern issue once again. Dart approached them about buying a huge chunk in a special deal and PPHM took it. It don't matter to management whether they get it in one big chunk or through ATM ( which might have tanked our SP much further) they needed the money in short term. They want these trials going now, not a year from now when the SP might be higher. Time is also money and as Sunrise gets approved the patent clock begins its real ticking....you do not want to wait for further indication trials to start too late in that clock.
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