Early stage bios "Always" need funding. To have a shelf registration is a good thing as it shows a potential source of known funding. Any surprise is then usually some kind of partnership or other positive as the company continues its progression. One of the worst price pressures on a company is knowing it is running out of money with limited options. Not the case with IDRA. The S-3 and heavy Baker backing place the emphasis on progression of science. IDRA is in good shape. All IMO. Do your own fact checking.