the funds raised in late 2020 at $1.50 were announced they to be used for the following:
The funds being raised will allow the company to fund advancement across all areas of the business including
- Expediting the commercialisation, and launch following regulatory approval, of the COVID-19 SPL7013 nasal spray and exploring other presentations (e.g. COVID-19 eye drops) for SPL7013
- Expediting and advancing DEP® clinical programs to support licensing, including undertaking additional DEP® clinical trial combinations and advancing additional DEP®candidates to the clinic
- DEP® pipeline development to develop new DEP® candidates to advance into clinical trials (e.g. antiviral, oncology &/or radiotherapeutic)
- Provide working capital to enhance balance sheet to support activities across the business.
it’s dissatisfied that so little value has added with these funds other than pay management for not achieving much.
Use of funds $45m raised almost 18m ago
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