Look, I’d certainly support a convertible note at a higher share price and nominal interest rate (like EXAS pulled off), but the difference is that we don’t even have an FDA approved expanded label. No way they could have pulled off a financing deal like that. Wait until expanded label? JT has clearly decided that’s too late.
Unless someone has better insight than JT, why wouldn’t you assume he walked down both avenues and decided dilution was the best path?
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