$2.91 per share is what institution investor paid in recent share offering
After reading the press release 7-18-2012, my understanding is that institutional inverstors essentially paid $2.91 per share( in common stock term ) for a total of $40 million to ALIM. And their warrants conversion price will be about $3.20 per share of common stock.
What does this mean ? This means institutional investors are very , very optimistic about ALIM.