A potential major catalyst which could move the share price higher and reduce the effects of dilution when the capital raise is completed. Totally unrelated? No, not for anyone trying to maximize shareholders value.
However, if the goal is the increase overall float (inch a little further away from perceived takeover threats) initiate a MFN event which is favorable for certain parties, and smooth over lingering questions related to arms lengh transactions, it is a brilliant plan.
Let me put it to you this way. If we see another financing at a major discount with free warrants at say 1.25, and a few weeks later they announce this combo trial. How will you feel if the price jumps to 3 or 4? Will you think they maximized shareholder value and minimized dilution knowing that negotiations have already been completed, but not announced? My guess is that the negotiations have been completed for a long time. The final green light is probably contingent on a resolution of whatever is holding up the L trial. The same issue may also be holding up the Direct trial. Everything is at a standstill until the issue is reresolved. Maybe something related to the investigation.
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