Starpharma’s bank balance and capital raising history 2010 - 2024

The following figures are the cash and cash equivalents (CCE) balance as stated in Quarterly Reports going back to 2010. *subject to inadvertent error on my part

Regardless of the fluctuations of revenue from marketed products, research fees, licence fees, R&D grants etc, and expenses such as staff costs, marketing, and R&D etc over the journey, the CCE is the figure that counts.

Note the CCE balance in the Quarterly Report immediately before a capital raising. Based on Starpharma’s history we must be getting close to the next CR. But now as a penny stock, the next one is possibly going to sting and be highly dilutive.

Quarterly CCE balance:

Jan10 24.3m
Apr10 23.7m
Jul10 22.9m
Oct10 20.2m
Jan11 19.7m
Apr11 20.1m
Jul11 18.9m
Oct11 17m

CAPITAL RAISE

Jan12 49m
Apr12 46.6m
Jul12 42.8m
Oct12 37.6m
Jan13 33.2m
Apr13 35.9m
Jul13 33.8m
Oct13 31.5m
Jan14 27.8m
Apr14 27.8m
Jul14 24m

CAPITAL RAISE

Oct14 37.2m
Jan15 39.3m
Apr15 34.7m
Jul15 30.8m
Oct15 26.1m

CAPITAL RAISE

Jan16 54.7m
Apr16 51.1m
Jul16 46m
Oct16 37.6m
Jan17 36.3m
Apr17 29.7m

SELLS AGROCHEMICALS

Jul17 61.2m
Oct17 56.9m
Jan18 49.9m
Apr18 54.1m
Jul18 51.3m
Oct18 49.5m
Jan19 44.4m
Apr19 44.7m
Jul19 41.3m
Oct19 36.8m
Jan20 35.9m
Apr20 36.1m
Jul20 30.1m
Oct20 24.9m

CAPITAL RAISE

Jan21 70.3m
Apr21 64.3m
Jul21 60.5m
Oct21 53.4m
Jan22 51.3m
Apr22 54.8m
Jul22 49.9m
Oct22 42.3m
Jan23 44m
Apr23 38.9m
Jul23 35.2m
Oct23 35.6m
Jan24 32.1m
Apr24 26.6m
Jul24 23.4m
Oct24 24m (today)

Jan25 21m (estimate)
Apr25 17m (estimate without licence $ or CR)

THEREFORE IMO, BASED ON HISTORY, THERE IS POTENTIAL FOR A DILUTIVE CAPITAL RAISE NO LATER THAN Q1 CY25

A modest $20m capital raising at a generous 8 cents would see 250,000,000 shares added to the register. (Currently 412,000,000 shares on the register)

*Unless: If the woeful micro cap status of Starpharma is maintained going forward (let’s hope not), then the dynamics and prospects for the company may have fundamentally shifted for the worse, in which case there may be no need (or ability) for a large capital raising if there are no meaningful R&D programs or clinical trials being run, which may enable Starpharma to run the CCE bank balance down to approx $4m - $6m before considering the need for a capital raising.

All IMO and speculation only.

P.S I’m holding onto my remaining 500 shares and will consider buying back in substantially on a leg down in share price (reason specific) or a leg up after a truely meaningful and significantly positive announcement.

GLTAH. Well, most holders.