It could be an issue of getting one ducks in a row. If Cortex is bargaining for upfronts on the RD front and making a December bid to pursue phase IIb CX717 in Europe(if the Euros agree), then lining up a PIPE makes sense. The sense here would be if the ADHD goes sour, and if the RD upfronts are too paltry, then a PIPE makes sense.
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