For sure the expiration of warrants is painful for the owners.
But heck - this is part of the speculation.
There can be no guarantee that a warrant will not expire. Poet did extend, but will not do it again and again.
Even if we would receive the long-awaited news and the SP would rise to let us say 0.80 CAD: It seems many of the owners would have to sell shares to exercise their warrants, and this would suppress the SP. So we would really need yummy news, and in addition possibly a deal with a party (investor/customer/partner) purchasing shares at a fixed price - above 0.80?!

It could well be that these warrants will expire. I do not worry that the cash for Poet will run out, as I guess NRE is on the horizon.

Waiting for a deal... TF