It’s just bad optics and unfortunate timing. They should have done this several weeks ago instead of the day after the CC and in the run up to the court decision. I can see where this could easily be viewed as telegraphing their expectation of a court loss and a quick scramble to raise more cash in advance of the PPS tanking after a bad court decision. Think back to the last offering which happened just before they were told about the Ad com. A seed of distrust was already planted. And of course the overall market problems haven’t helped.
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