If they don't get that financing agreement done and signed support at .04 will be gone within minutes whether the first Pre-Clinical is good or bad. They won't have cash to pay for anything.
"...today announced that it has signed a term sheet with a single strategic healthcare investor for $5 million in Series B Preferred Stock financing to redeem all of its outstanding convertible notes, fund several pre-clinical studies targeting vascular diseases and ischemic injuries in vital organs"
Nor the funds to finance Phase 1 Human trials after the Pre-Clinical.
If they signed it will need to be reported on the 10Q and that's what everyone should be waiting on and maybe everyone is waiting on. If they signed there balance sheet will show +$5,000,000 or more. That will make this stock soar.