This tells me, the company knows it will be able to get a higher price at a later date. However in the near term they can use cash to continue on their way to prosper on Sapacitabine. They are using common sense and not rushing into immediate dilution. This is a very smart move. Slow and easy, they will have the security of knowing they can get funds in the future. Buy this stock for a long term hold. Good luck all.
Your point is nonsense. CYCC has the right, but not the obligation to do this financing at time and price of their chosing. They paid 74k shares or about $400k for this option, which is not bad at all and prudent to have. For example, it will enhance company position at any buyout talks (they won't be desperate to get bought out). No one reasonably expected any approval this year and beyond that nobody really knows.