We keep coming back to this question and it is not very relevant at this point in time.
1. RAC has enough cash in the bank ($2 million) to get the programs laid out in the new strategy underway. Small trials are not that expensive if you use your brain more than your wallet. If you look at the current Israel trial it only cost RAC €78K for a 12 person r/r AML trial (Phase I). We have all the drug we need for all the trials already prepared and ready to go.
2. We have the potential ability to leverage the PRV to help fund the trials. While the market hasn’t attached much value to the PRV (to date at least) I can say that those in the industry recognise its value.
3. If the shareholder understand and support the new strategy then raising the cash needed to complete the trials is within RAC capacity. We are not planning to run trials costing $10s millions of dollars, but trials that require much smaller sums. The key is to be smart about what we do and keep our spending within a tight budget.
The bottom line is RAC doesn’t need to raise cash right now to advance the various pathways. Worrying about a possible CR sometime down the track when a lot will change before then is not that productive. Let focus on getting the projects going and rebuilding shareholder trust and support.
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