Yippee! We have the money, page-47

Some posters have raised the question of why the IPO now? And that’s a good question

IMO the answer has to do with forward planning. The fact is you just can’t switch trials and research programs on and off at will. There is an extraordinary amount of detail and dependencies involved – I’ll bet, for example, you’d be staggered to see the detail in Pert/flow charts behind the current TT-034 trials.

Forward planning can often span time-frames 2, 3 or more years ahead and it’s no good making such plans if you have no certainty of the necessary funds being available.

The funding road ahead is always uncertain. For examples, suppose the biotech market crashes on the back of the failure of a couple of failed technologies or the continued rise in the USD which could result in a tightening of liquidity which might in turn mean less funding available for spec investments.

I don’t know what lies ahead nor does anyone else but I feel much more confident knowing I have the cash in my bank than taking my chances in, say, 6 months time even if armed with good efficacy data – to which the market say that’s good news or equally say so what where’s the proof of concept!

So I get back to the point I’m trying to make which is that if you expect a company to plan ahead (which surely you want) then you need to accept that they must have a solid foundation upon which to build and, in particular, money on hand to carry out the plans. The money was available, okay not on such good terms as we had hoped but it was there and we did what we needed to do and took it.

There was a price to pay for funding certainty and I for one was happy to pay it! For me that was the number one priority. At least we can now get on with exciting programs we have the pipeline and not have to worry what might or might not happen in the global funding environment.