I think it very important that investors separate the company from it's stock. The company's product is great and is vastly needed for patients to get treated with. However, if Thermadox gets approved by the FDA, there will be dilution based upon options/warrants that will automatically exercise due to such approval. Revenue will not start ramping up until 2016 per the company so that's almost four more years of trying to fund a company that has enough cash to last through 2013.
Their best bet is to partner up with a large pharma (the Chinese partner while large in China is not the partner the stock market is looking for) or entertain buyout offers after the FDA decision.
Management has done a fantastic job in 2012 lining up their ducks in a row to get to this point. The question is if the FDA approval is alreasdy baked into a $5.00 stock price where very little revenue and no profits will occur in the next three + years?
Asian partnership will bring in much needed cash. The US partnership/licensing agreement should bring in a large cash infusion, and they have the 75m at their disposal immediately. $100, 200m for the US deal? Change for bp, but along with the expected 75m dilution could fund the company until revenue begins to fund operations. sdtrond or bio or other experts here could perhaps give a more accurate comment on this.