I'm in another Biotech, DRRX, that today announced the pricing of an offering for 14MM shares at $.90. Closing price yesterday was $.97. I hope we do better than that kind of haircut! Maybe the difference will be that we're taking the haircut in today's trading rather at the opening tomorrow.
According to the last 10Q including outstanding warrants and exercisable options for common stock totals 29,251,000. New offering brings the total to 40,751,007. My take is they price the offering at $3.25