They have less than $10mill available now and only around $400k in cash. In any event, $8-10mill is no where near enough to conduct a proper phase II. The FDA won't permit another one of these tiny sample size trials. They will need to raise another $15mill at least.
$50mill is an excessive EV for this company at the present point in time.
As I said, 10c+ is a good price to take profits. Should be able to buy back in at around 7c soon.
VLA Price at posting:
96.0¢ Sentiment: ST Sell Disclosure: Not Held
