$PHAS John? @johnmiddleton?? This is an Effect Form from the news from 12 days ago. The company is only activating $60 mil of their $200 mil "shelf" registration that's been on file with the SEC since Day One. It's 9 mil shares based on the $6.36 price then when it was announced. Pretty paltry indeed in the overall sense. The FDA is actually rolling out the red carpet for them.