Yippee! We have the money

Fantastic we've got the money. The sums look like this:
Gross proceeds $13.8m
Estimated expenses from Filing data $1.8m (assuming that's roughly the final number)
Estimated net $12m
Estimated cash already in hand end Q3 $18m (2015)
Estimated total cash available at end Q3 $30m (2015) Yippee!

That will allow us to burn say $5m per quarter for up to 18 months which unless the results from the current trial of TT-034 take a completely unexpected negative twist should enable them to be easily completed. My estimate based on progress to date is that we should have a definitive answer one way or the other by the end of Q3 2015.

If the results confirm or hopefully exceed those achieved in the monkey pre-clinical studies then we could expect to get FDA permission to move to a Phase 3 trial with a view to demonstrating Proof of Concept. That will likely be a double blind placebo controlled trial with around 100 or so patients and very expensive and based on the Phase 3 costs for other drugs could need as much as $100m - which I doubt we'll have any problem at all in raising that and more when we need it.

In the meantime let's set the today's likely SP blood bath aside and focus energies on getting Phase 1/2 completed.

Personally, I would like some updated efficacy data but I think I read somewhere that for the next 30 days or so after listing only the underwriter can comment on the company and its performance - so not expecting an announcement of results directly from BLT - but I could be wrong on that.

Enjoy the moment!