We signed an option for a deal with Fuji for GvHD when it was still pre-clinical. Obviously the upfront payments were are bit different:
US $3M placement at a ~35% premium to purchase the option.
US $3M on exercise of the option.
IMO, Cynata needs to extend the cash runway (assuming burn of $2M/qtr) into March 2027. That would mean they can release the Knee OA results and not have to raise pre-deal. My best guess is that the company has a cash runway to August 2026. So they need to find around another $5 million AUD (or approx $3.5M USD).
If they can get another $5M from a DFU deal (and/or Renal), it ensures clinical development doesn't stall and means they're not getting bent over a barrel negotiating GvHD and/or Knee OA deals.
CYP Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)