The fear mongering this week by the shorts on a secondary is bull. Even if AMPE did the Z trial itself, they could raise $$$ thru a rights offering instead of a secondary. This'd give EXISTING shareholders a chance to buy new shares below market for a specific period to raise a targeted amount. This'd also prevent the shorts from an effective timed attack as in late 2011.
DUH! Differences are - they don't pay some IB a big chunk of the capital raise so they get more cash; it can be more confidential since loose lips IB's aren't doing an offering; since shareowners believe in the co, they will jump at a lower price instead of having to do road show sells.
Not sure why you are on this board all the time - are you short? - or just a general cynic interested in the co?