lindtu,
They don't have the time or patience to peddle this to individuals. Institutions would take these and properly hedge it.
I had ample proceeds in early December from the Arqule takeover so I looked at TRIL again. I had owned it heavily in 17' and did very well. When I decided to take a flyer on it my two main concerns were simply, was it going out of business for lack of Capital or would it have to do a reverse to comply with the Nasdaq's rules.
This financing takes both items off the board for now and I have no doubt they'll get deep into their trials.
I've had two wildly successful trades over the last few years, Ariad and Arqule and Tril looks awfully similar too me.
PS, I've had my share of Bad Trades also.