If FDA meeting goes well and Titan can re-submit with further dosing trials then Braeburn/Apple Tree will front some cash from milestone to aid in maintaining operating cash - I am sure of that. If not, then Titan will obtain a credit facility first before they would do another stock offering.
All of that is dilution, period. Worry or not, new trials will result in at minimum, two years before another AdComm decision is likely. Plenty of time to "rinse and repeat" all those remaining 2008-2009, .03 to .05 shareholders and to continue their endless game of "rob the idiots," with a whole new "carny audience." Think I'm being too hard or unfair? So far Titan, as a 21 year-old business, has been an EXTREMELY consistent failure for investors, but then built -in failure is the game in they play in this OTC penny market isn't it? Traders on the other hand, have profited greatly in Titan, as has its management, the Titan BOD, their vendors, partners, and their pet hedge funds (aka the loan sharks that help them distribute the investments and grants among the former.) Jump into this little gamble of a "really good story" at your peril because this is ONE VERY EXPENSIVE game of musical chairs, especially when all the other players can hear and you're one who is deaf... Mine is just one opinion....one formed at great personal expense, I add. The product here is a lucrative story, not a Shakespeare variety tragedy of a story, more like a Beverly Hillbillies comedy one. Still, there's plenty of money to be made here in Titan but it's money made by trading in and out, watching how the predators who endlessly PUMP this partial junk/part real science do their dirt, running along behind them picking up crumbs and praying you don't get caught holding the bag, as many hundreds, if not thousands of others have over the past 21 years. That's the game they're playing here and don't let anyone fool you into thinking otherwise.