Prep package half-year report Dec 31, 2023 (due week of Feb 26, 2024)

My primary focus is cash balances.

Cash per Jun 30, 2023: US$ 89.2 MN

+ equity raise (net): US$ 52.7 MN
+ 3rd DVA tranche: US$ 35.0 MN
+ opt. DVA tranche: US$ 50.0 MN
+ R&D tax credit: US$ 5.9 MN
———————————————————
= cash inflow Jul-Dec 2023: US$ 143.6 MN

Scenario 1:
cash burn Jul-Dec 2023 US$ 93 MN
=> net cash per Dec 31, 2023 US$ 140 MN
=> financed through end of Q3 CY2024

Scenario 2:
cash burn US$ 103 MN
=> net cash US$ 130 MN
=> financed through Aug 15, 2024

So a quick look in next week’s HY report at where the cash position stands (is it US$ 130 MN? is it US$ 140 MN) should give a pretty good understanding about how long OPT has time to either negotiate a regional partnership for OPT-302 or to prepare another CR.