There are over 60 phase trials on going??? So not sure your point on PROPER R&D. As far as marketing the company take a look at fund ownership. Those funds are not worried about the current share price but they are well aware of the potential with over 60 phase studies. How do you suggest that company FUND itself to move their pipeline forward? The ATM set up sucks for sure, but beats large secondaries. Not one of ARRY'S molecules has proven out in phase 3, to date. The best WAY this company can help the share holder, actually, the only way, is to have a successful or several successful phase 3 studies. This is a BUY and HOLD, big payoff or a complete bust. THE ODDS are heavily tilted toward big payoff. Not because of ARRY or their management, BUT their partners are some of the best on the planet. These partners are pouring 100's of millions into those phase studies. THEY would not do so unless PHASE 2 was THAT compelling.
In 18 months or less you will know one way or the other if Arry is a BUST or a grand slam. Management can not help the share price, phase study results can.