Diver,
I believe you're right on the money about what they will, or won't tell us. I also believe that we can see that they can only go so far without raising substantial funds. While it might be possible for them to raise the needed funds to go all the way to approval, I suspect the terms would be getting really nasty, and so would investors sentiment.
I believe they'll want to raise funds by roughly the latest time they can schedule the Annual Meeting for in June. I think they'll want additional shares authorized at the meeting, and to assure that happening investors will need to be better informed by that time. The least I would expect would be the TLD statement at the time the proxy was issued for the meeting, that would probably be a month before the Annual Meeting.
If this makes sense, I believe it's saying that we should see TLD no later than May, it could come with the Journal, or perhaps the Abstract for a presentation at ASCO, which could be followed with the Journal immediately after ASCO. My point is that by May we should be much better informed, hopefully it will be sooner than that, but financially they'll need to do it by the time they're asking us to vote to provide additional funding. It also make far more sense to issue new stock when the share price is dramatically higher, which can only happen when investors know far more about what they have.
Gary
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