Cash position

I am new to this site. I have been watching this stock for a while as there appears to be some potential here, however it has seemed to struggle lately. Reading the latest cash position, I can only assume that a capital raising is highly likely in the short term (i.e. $10 million cash burn last year and 30 June 2015 cash position of a bit over $2 million)0 I also note they have maxed out a small loan facility ($1 million). For those with more experience in these types of speculative biotech's is this a valid assumption? Or am I missing something?