Either he has a buyer or buyers lined up at $0.08 for at least a good chunk of offering or he dropped price hoping for some bites. If former, we'll know in few days via share count. If latter, this only shows desperation and will scare people off.
As far as funding human trials, he'll have to substantially raise price on remaining offering post IDE or do another offering at higher price. $4 million is nothing for a business conducting a human trial.
Oh, very unlikely we'll hear anything about test results until after a 4th meeting. Only opinions that matter here are those of FDA reviewers.