According to the accounts, total income is likely to be over $20m for the year to June 15.
Probably $13-14m of that is from Chiesi in the form of cash reimbursement.
So the cash burn must not be far from being eliminated.
Add back the Chiesi cash to the $19m on the balance sheet at the half year gets you $33m cash.
Say that falls to $25m by the time costs and income align.
Then you have a Bronchitol royalty stream in Europe and the USA, plus LOXL2 and SSAO programs, plus their manufacturing capability, in for $3m.
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