Based one of the previous 2 Q reports, it was stated they had enough cash to last up to October 2017. In the latest prospectus;
proceeds from this offering primarily for the commercial launch of FlutiCare™, if approved by the FDA, working capital and general corporate purposes, including sales and marketing activities, product development, capital expenditures, the repayment of certain debt of the Company and product acquisitions and product licenses.
They had also mentioned in one of the previous offerings the money would be used to retire debt and also for launch of Fluticare. However, I could be wrong on this but, the company obviously didn't have enough money, nor sales, nor enough GP to make a statement of enough cash on hand to operate to October 2017.
Secondly they don't have Fluticare approval and they have no idea when they will. It would have had less of an impact on the pps if they waited for the approval. So that is what leads me to believe the cash was really needed for other costs.
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