Cash runway in the last Quarterly 4C (9 quarters) is just cash at hand divided by that quarter’s cash outflow. The P2b trial spend hasn’t really started yet.
When the new P2b trial was announced last September, they said they had enough cash to get to 4th quarter CY2023 (I think - please correct if in error). But that probably assumed a trial start a couple of months ago, and didn’t include the $3 mill tox study.
3-4 qtrs of cash (max) if they start the trial soon imho. That of course ignores any cap raising/funds sourcing we are unaware of.
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