It is clear to me that the point being made is that there is no foreseeable cash raise.
The tax rebate is huge and Esra was explaining that POH are one of the few companies that was able to claim research expenses that were carried out oversees.
The other reason is that the change in strategy of aiming for a deal post phase II is that the money raised for the phase III will carry us a long way, probably long enough until the deal in early 2014 is complete.
In summary - no more cash raises for POH is on the agenda.
comfortable cash position at end of this year, page-2
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