Not quite sure how they will get out to 2 years with this funding - spending has gone through the roof over the past year, are they planning on reducing this ? It doesn't look like it with them outlining 3 uses of the funding - all for presumably under $10M ?
Last financial year they spent $9.3M or $7.4M after the rebate.
That's $7.4M net loss compared to just under $2M previous year.
Still the rebate to come - be interesting to see how much they get there.
Still a chance Genentech put some more money up - that was really what helped to drag back the net loss in previous year from $4M to just under $2M.
PYC Price at posting:
3.0¢ Sentiment: None Disclosure: Held
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