Normally, the partnerships only fund the actual trials - and associated costs. The normal operations of the company are not part of the deal.
Can you provide any evidence that such partnerships do cover the total running of the company? I can't recall any personally to be honest.
If phase 3 trials are successful, that is when there are lots of cash being thrown around.
BIT still needs to prove that the trial resultsa re worth a phase 3 trial - we'll know that when the final results come out.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-139
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