O/s shares - 7.4 million O/s warrants - around 7 million plus with avg exercise price from 19 to 32 - those warrants will give co $140 million over period but with low SP they may not exercise
So co is preparing to raise money - if the results are good and they need to move forward - if trial results are good SP will go up and need much fewer shares to raise $100 m If results are not good - co may not need money as investor we will be out