$HTBX Again a Shelf registration is SEC rule 415 which allow a company up to two years to offer up the shares. This is not an immediate public offering. I've seen many larger smart bio techs do this in advance of another event. NDA's etc. Also keep in mind that it does not matter what stage right now to get BARDA funding. Take a look at Novavax who got 1.5 billion and the are only in the design test phase. HTBX not far behind that. Still need many players to keep in this game since even Moderna did not produce any viable vaccine to date for anything. Will see this week.