We've heard announcements before about what's coming, things that haven't happenend....a licensing/partnership deal, analyst coverage, attending the Paris BioInvest show and presenting there.

If the company announced they were arranging a replacement loan....or an extension with the same covenants as currently exist, or an offering large enough to satisfy the loan, or whatever.  If something was announced in that same fashion as (say) the licensing/partnership deal...vis a vis, "We will be announcing an extension on the loan in the next to weeks".  

Then I think there might be genuine cause for concern....silence might be better.