Additional cash could come from debt/partnership/stock issue...
or any combination of these three. I agree with Hector777 that INSM will require more cash to continue.
Bear in mind however, that in Dec06-Jan07 stock was strongly in high twos with the full knowledge that an equity offering was forthcoming. Those shares were offered around $2.
Now we have the cap on royalties soon TBD by the judge, additional, larger patient-base data due in Q1, and EMEA approval in '07. I don't think it's unreasonable to assume stock will see $2-$2.30 again, prior to new financing announcement. And if this financing announcement includes partnership or debt, I think share price could approach Lazard's promised $3.