I think what jesse is trying to say, although their are more shares, a larger percentage will be locked up and may add to a more stable stock price. Wheter that line of thinking is correct, I don't know. The funny thing is, gtcb now has 56 million in the bank and has a mkt cap of 80 some million dollars? Seems like the stock is somewhat undervalued for a biotech company with a product.
Adding shares to the existing total certainly makes the individual pie slices thinner, but only if you are planing to cut the pie up and serve it. In the unlkely event GTCB decides to throw in the towel we would get less for our individual shares. This is really not what most shareholders are concerned about. They are interested in the pps which is determined by supply and demand. Shares added which are locked up and can not be sold, have no intrinsic power to lower the pps. This does not mean a shareholder reading about the "dilution" will not feel he owns a smaller percent of the company and decide to sell his shares. This of course will tend to lower the pps. IMHO this type of dilution this is not as bad for shareholders those in which there is a high likelyhood the added shares will reach the float.
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