That expected $5m is a drop in the bucket compared to what a going concern needs to depend upon to start and maintain a Phase III trial with many more patients than Prana has ever tried to enroll, for a much longer period. That is in addition to entering at least one more application into the clinic as a backup to the possible failure of the Phase III which still doesn't exist. Perhaps those old unused orphan drug designations could finally be put to use....
if the FDA permits, considering the unknown coming changes in US governmental oversight.
Prana continues to show losses throughout each quarter even when they do not have expenses for active clinical trials. They are continuing to pay institutions for new research on a very old family of therapeutics. In addition the usual expense of salaries for extremely slow execution goes on plus the need to keep the lights on in that second story office building.
In my opinion the Australian government has the right to critically assess what gains they have made by subsidizing (oops refunding) a company that annually has not made any gains but continues to slip backward. If they repeat the refund, Prana with their market cap in the low $20 million range will still be competing with the big boys in the multi-billion range.
PBT Price at posting:
6.4¢ Sentiment: None Disclosure: Not Held
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