The key here is the option on the second tranche of R&D rebate- likely much higher than $210k with all the upcoming trials.
So at rough eastimate they will want maybe $3.5m to blow on trials this year. Cap raise towards end of year after hopefully some positive trial results.
This is very ballsy work from a normally conservative company- make or break time indeed
Ann: PharmAust receives $210k prepayment of forecast R&D rebate, page-19
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