Trusting that the loan was a stop gap measure, but wondering why the financing whether by loan or stock sale was undertaken so late. Something, whether a timeline or financing prospects might have slipped. Maybe it is too much to expect for a pre-revenue biotech to take a low risk approach to regulatory approval and a low risk approach to financing as well.
Thermo , Regarding otlk reading the $10m note it appears they can not issue any stock without the consent of the lender so I am leaning towards it is not being otlk selling stock. In fact the loan terms are very high in cost for otlk which shows they do not want to dilute the stock. Would have been much cheaper to just issue 5m shares of stock but they obviously prefer not to dilute already until after fda filing! Appreciate your opinion… JR
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