Your question also prompted me to revisit the 'Hidden Gems' webinar, which PAA's CEO presented on 17 May.
Around the 4 minute mark he starts discussing market cap and specifically mentions that R&D refund, plus the other sums that will augment the cash balance and provide PAA with $16-$17m in cash - enough to see it through the 4 x trials and up to mid 2025.
Ann: Investor presentation, page-23
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