From the annual report
Our current (in negotiation) pipeline for clinical trials is over $USD7.2m, the largest pipeline for clinical trial contract services in the history of the Company.
My memory from the business update a few weeks ago was that the pipeline had dropped from about $6.6M to $6.0M with a bid unexpectedly lost. Well it looks like it has gone up again, USD $7.2M ~ AUD $8.6M ... so very good news. However there is a salient reminder in the annual report on how revenue is booked for this clinical trial business. A contract for a clinical trial using leased equipment valued at $2M over 2 years will be realised as revenue over the 2 years .. we don't get a $2M sugar hit . In addition, all this extra "leased" business means we need to purchase the equipment so it is available to be leased. This could be the reason our inventory has doubled to close to $1M. So from a financial perspective, the addition of a significant contract initially has a negative impact on cash. You have to spend money to make money !
Just a heads up ... great news on the clinical pipeline though, it does suggest CBP continues to gain traction.
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