$7.5m expected to be left by jun 30 and plan to reduce expenditure going forward , they must not be that confident for CE mark to do this or its going to take till years end to sort this mess out .
"As a precaution, OncoSil will be operating under a revised business plan while it awaits the outcome of the CE Marking decision. The Company is targeting a reduction in the Company’s annualised cash cost base through reductions to operating expenditure, R&D expenditures and a pause on any new clinical trial and study activities until certainty around the CE Marking is achieved. The Company has decided to pursue this course of action, with the aim of strengthening its position and maximising long-term shareholder value with respect to the road ahead."
OSL Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
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