I voted no too. In my experience, prbably nine out of 10 biotech share increases resulted in a substantial loss in share value. They better have a good explanation of why and how they intend to use the shareholder equity in this substantial dilution.
I have not read the proxy but the first thing that comes to mind is that are they asking to issue additional shares or are they asking to increase the available shares. Many companies in their early stages increase their shares available to give them flexibility as they expand. Some do secondaries to raise cash some do not. With respect to ARIA, i wonder if they want the availability of additional shares in order to possibly fund the launch of the next product.