If my posting hadn't been right there, this would just be wrong. As it is, it is something worse than just wrong.
To reiterate: without the expense of an ongoing p3, Intermune would be profitable soon (probably 2 more quarters), and still seeing a sales ramp. ASCEND is coming to a close, and only if it succeeds will there be a comparably large expense to replace it. There is no hurry to do dilutive financing.
Down before up? Probably. The Washington Circus is about to erupt worst than ever.
By "a secondary" I presume you mean any sort of dilutive financing. There's an interesting interaction that makes it less likely. In short: Intermune has plenty of money to continue existing business if they aren't doing something extraordinarily expensive, like say a p3 or a US introduction. So the only likely situation in which they need substantial financing is if ASCEND ends with a success. But in that case, Intermune is a MUCH better credit risk than it is today (and the introduction expenses will ramp slowly until actual approval). And even then, it would make a lot of sense to sell the company rather than try to do the US roll-out independently. So I'd look for less-dilutive (but perhaps more costly) measures near term.