$KTRA typically, when a small cap biopharma transitions one or more of it's clinical trials to Phase 3, that is when big money steps in because it is a much safer bet at that point. Then you see steady continuous growth upwards, regardless of any offerings. If the company raises the ENTIRE 100m shelf at this price of let's say $2 (to simplify the math), then 100m / 2 = 50m extra float on top of the existing 30m float. That's going from 30m to 80m float. Meaning more than 50% dilution of the stock. So more than -50% downside at this price. Back to sub $1 price range. That is if big money just let's it drop to that price before picking it up. The next upcoming catalyst is this Friday or next Monday. If the company is expecting to put out a negative PR, yes they would dilute beforehand. BUT IF THE CATALYST IS STRONG? The price could jump exponentially to 6 - 12. Let's say the price settles at 10, then 100m / 10 = 10m extra float ONLY. WE WILL SEE WHAT HAPPENS BABY!