Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

"CMT management held a Type C meeting with the Food and Drug Administration (FDA) on 16 January 2024.
FDA provided its written responses regarding potency assay development and comparability studies for
Elate Ocular® drug given the pathogen inactivation steps to be implemented in the drug manufacturing
process. CMT management is assessing the FDA’s written responses and reviewing the Elate Ocular®
development plan. Regeneus believes it to be unlikely that Phase 3 studies can be initiated in 2024, as
originally disclosed in the Shareholder Update Presentation on 28 September 2023."
(emphasis mine)

I was wondering why a phase 3 trial company would be so cheap.
The 100:1 consolidation will push the SP to 70c and give them more leg room for a discounted CR to pay for the trial.
Still looks interesting but probably need to wait til Q4 2024 to see how things look.