Gordonhead, Wainwright knew exactly what they were doing in terms of the financing. That's what they and their stable of investors do. In this type of business (financing developmental stage companies), the success rate of the businesses financed is quite low and thus not expected. The money is made and the risk reduced and sometimes eliminated right up front. Plus, you get a little back end juice playing with the warrants. 

I submit Wainwright is not the least bit disappointed with Poet, I'm not sure how much they even cared about future success going into the deal.