They had offering in January. Although they have plenty of cash on hand to last to EOY, it's possible, this may be a good opportunity to raise more cash. Some bio companies do it every quarter. Big question is, will TSRX raise cash before the data result or after.
I think someone mentioned, they will have about $80M by EOM.
If the P3/2 result isn't so good, then PPS would plunge. In this case, raising cash before would be better. But if the P3/2 result is good, then better to raise right after, since the PPS will settle down again after the jump.
I think it would be better to raise more cash now then later for less impact to shareholders. I think there will be a bigger impact to shareholders if cash raised during 3rd or 4th quarter when their cash is low.