I think a shelf filing is good for two years so it's possible they're not planning an offering in the near future and just want to be ready if and when they decide to do one.
Interesting question whether they'll do one before they announce SYNERGY data late next year. They say they have enough cash to last into 2015, which gets them through SYNERGY and the P2 trials for 427 in prostate and bladder and probably most of the way through the planned P2 trial for 427 with abiraterone in prostate. After the end of this year, Teva will fund all remaining costs of the P3 trials for 011 including SYNERGY and the other trial in prostate with Jevtana and the lung trial, as well as any other 011 trials Teva approves. If SYNERGY is successful, the milestones and royalties OGXI will get from Teva might be enough to fund the additional planned P2 trials for 427 in lung and pancreatic and possibly a P3 for one or more 427 indications. But if SYNERGY fails, OGXI will have to raise money at a time when the pps will have taken a hit. And it will have to do that even if it decides to partner 427 and the partner funds most of the cost of P3 trials. So my guess is that they'll play it safe and do an offering before the SYNERGY data are known.
I don't think it will happen right away, especially given the drubbing the pps has taken in large part because of the fiscal cliff situation, but I've been wrong before.
The shelf filing gives them an option. If mr. Mkt. decides to run up the price they can issue shares or debt or converts or PDFs. From the noises the co has been making I am very sure that there is no plans to issue equity at these prices again.