This is the problem with ATM funding. It presents a moral hazard. They have no accountability. No investor questioning their productivity. It is like having access to a safe full of money that you can withdraw from at anytime with no justification and no accountability as to how you spend it. If you need to do ATM sales at <$.50 of course you should cut expenses to what you absolutely need. They were staffed for a bavi launch how can they justify keeping all these people around. What do they do now that bavi nor any other product will be in the marketplace for 5+ years? And you should not be paying execs and bod like they are running a successful going concern. But there is no consequence to them for poor performance. It is contemptuous wrt to shareholders.
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