be happy, page-7

Mjmj, yup I'm overweight.

I'm just being realistic about our funding needs. Fox cant guarantee us Vapendavir will get out licensed.

If the worst case scenario comes to pass, we have two options, we defer Phase III or we raise capital to finish the trial ASAP. We'd be nuts to defer a late stage product.

$70M cash
Less $20M working capital for LANI trial (45 day reimbursement)
Less $50M Vap Phase III (that's cheap for a Ph III)
Less $3-4M RSV Phase I
Less other program costs and corporate costs

The yank way of doing business is to have three years cash. If we tackle Vap ourselves we don't have that cash buffer....nowhere near.