Brother is venture capitalist on Wall St and is involved with startups and mergers. Had him read latest filing. Overall, he stated filing was very anitidilutive (contains much language along those lines) and protects investors. New ones & old ones. This deal structured with Cipla is BIG. Stated they basically scared away retail with the previous S-3 & S-1's to buy in cheap and then do the "prefunded warrants" which guarantees PULM immediate money for trial, but is currently antidilutive as float will not increase till this sails waaaay higher. Basically, Clarke structured this deal way to appease insiders & new investors. The structure of this deal is designed by him & his posse, not Cipla.
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