Capital raise, page-24

Putting aside the obvious dilution issues, this is an impressive raise. It underlines that TIS have a product and strategy which is clearly appealing to the smart money. Having held TIS in the past I fully understand the negative sentiment but the new blood is injecting fresh ideas, funds and a plan. They need some good new hires over the next few months and the IND allowance will give them credibility if they get it in April. Having said that, I expect the SP to remain steady or dip a bit more over the next few months but think this is worth keeping an eye on. If they meet upcoming milestones I would expect the SP to pick up, possibly significantly, by the end of the year as clinical results approach.
Compare this to CIR/OPT who raised a similar amount over a year or two ago, which provided smart money validation. The SP did nothing but when the milestones were achieved, SP has appreciated significantly as results approach. The difference is that TIS are in phase 2 and more progressed.