"We do not believe that our current cash on hand would fund our cash needs for the 12 months following December 31, 2024, and that we will need to access the capital markets and debt markets to fund our cash needs. However, our forecast of the period of time through which our financial resources will be adequate to support our operations involves risks and uncertainties, and actual results could vary materially. We anticipate that we will require substantial additional funds in order to achieve our long-term goals and complete the R&D of our current products. We do not expect to generate significant revenue until we obtain regulatory approval to market and sell our products and sales of our products have commenced. We therefore expect to continue to incur substantial losses in the near future. In order to address our short-term capital needs, we intend to raise funds through the issuance of our capital stock or other securities." (Pages 78-79).
Question for management: How long will it take for the Pivotal Trial to conclude, and how long will it take after that for Pre-Marketing Approval? The timelines on p15 are open-ended and do not assist.
Follow up questions: Does AVR have a take-over strategy? Is there any indication that AVR will receive a decent take-over offer in the foreseeable future?
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