If NWBO thought approval was right at hand, I struggle to see why they would want to dilute heavily now at 20 to 30 cents.
Approval would not eliminate cash needs. Launch, manufacturing scale, reimbursement work, and working capital still cost money. But approval should make financing easier and far less dilutive if the stock price go higher.
So if they are still selling into FOMO windows now, it may suggest they need money badly or that approval timing is not as close or certain as some think. Heavy dilution right before a supposed major approval event is hard to spin as bullish.
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