They just did a 20% dilution offering a few months ago. Hopefully this will be the last, but I don't understand why they don't borrow instead. The Bernack has driven interest rates so low that they should have been able to get a pretty good rate. It looks like they burn about $6-8M/quarter. With trials this number will go up. At least it still appears that they will be going it alone. Possibly they will be able to go to market without a partner (like CYTC did), but it will be very expensive for shareholders if they can't get a big money input and have to rely on dilution every 6 months.