You may be right, but there is also the fact that they shut down the LIFE raise in Canada. I doubt there were no takers in all of Canada and possibly on this board for that avenue. Maybe a significant announcement of nearer-term revenue is up Suresh's sleeve. I lean more toward a North American JV partner announcement, or maybe both as it has to be something they knew and could not yet say much about it. Otherwise, why not raise the runway by 3+/- months instead of a month and a half? 

That they could only raise what they did and have no near-term option for the next act, goes against what they said when they closed the Maxim tranche and is the most negative possible interpretation of recent events. No shortage of that type of thinking here, but I think Suresh is more sensible than some here are giving him credit for.