let's take your premise and build it out so folks understand the fallacy of your argument
SGYP has $30MM cash on hand, and you claim they need to run operations for 2 year. So let's assume a heavy clinical burden In that time frame, therefore they would complete 1 or 2 additional phase III trials for plecanatide plus a phase II for SP-333.
That would roughly require a total of $60MM in clinical operations plus $5-$10MM in SG&A and FTE expenses. Let's call it $70MM for the runway you propose and since we are speculating let's also say they add an extra $20MM as buffer for a rainy day.
Based on your premise they would need to raise $60MM in addition to the $30MM in the bank. That works out to be about 10 million more shares issued at $6/share (worse case). even in this scenario the company is significantly undervalued!