That maybe true, but there should be enough money to fund at least that one lead drug through the IND filing, possibly all 4 drugs currently of focus. I think that little tag is a heads up for the Big Pharma that has been dragging its feet.
It's more likely that any additional money raised will be used to proceed with Phase 1 human trials.
All that said, I don't have a problem with management negotiating enough shares to finance trails into Phase 2. I always thought that the o/s would eventually hit 150 million before the first drug was license.
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