what dilution are you 're talking about ? Did you read last 10-K form ?
They have over 63 Million in Cash , with Cash burning rate around 30-32 Million a year ( plus BARDA money) , they have funds for next 2 years . Of course, they will burn more money as study progressing , but still plenty of money for current year and beyond.
And what is the point to do dilution now when stock close to the bottom of 52 weeks price range ?
it was a nice article on Yahoo over weekend with evlauation of 2 companies by some analyst -OPHT and PTLA.( cannot find it now) He said PTAL has a very high cash burn rate ( they will be at 150 Mill at the end of 2015 , so he was assuming that offering will be coming anyway). But in anyway, he said , PTLA is his best bet in small cap Biotech companies . Plus, there is possibility that big Pharma will buy PTLA eventually .
I still cannot understand why management did this special dividend - aka stock split. I would think to increase number of shares , and thus , reduce price swings . However, it didnt bring any price stability for the stock . It can trade 5-7% a day easily , which makes it high Beta stock anyway. Since split happened , stock lost more than 30% of the value - biggest slide stock's had for 2 years - 17 down day vs only 3 up. No updates on earning from management ( they did it last quarter) , lack of news in general.
On a positive site, management didnt sell any shares recently , and Accum/dist line still ascending (which usually means accumulation ) . RSI line is at 30 - hit oversold level.
Does anybody know if any news supposed to hit anytime soon ? like trial news ?