I agree, having been through several RS's myself, they are rarely good for the shareholder.
It's still strange to me that a year ago, we were at $1.30/share based on speculation, promised timelines, and hype. Here we are now, on the cusp of actual news (completed enrollment with positive results) and another year of progress and we have a SP more than 40% lower. But based on the timelines for enrollment slipping and the capital raises I guess it can be explained to some degree.
In my opinion, these next couple of months should be telling. I would think we should know rather soon whether BP is going to step up and buy/partner with Cytodyn or if Cytodyn will push ahead on their own. If this is the case, nobody cares about uplisting. If they continue to do small incremental raises I would assume a buyout or partnership is imminent. If they offer a huge raise of +30 mil then they will be saying, in essence, we are going to push this to production ourselves, or at least give the appearance of that until BP steps up.
At this point, we can all just hope for some good news in July and that Tony makes sound business decisions which will benefit all involved.