Well, all of that money isn't in the coffers yet, is it? Doesn't some of it need shareholder approval at the next meeting? At $760k per arm, the money won't be in the account for very long. CHM is quickly approaching a major pivot point. Get enough data showing the drug works, and a partner jumps on board. We saw an article last month saying we needed another three arms. Well, the first of those arms has now been dosed. We could potentially have enough data and a partner before the tax refund would be available if they can keep the momentum of the trial going. Hopefully, this money allows this. Remember, they also need to have a quarter of money in the bank to keep operating. Cash burn to get this trial done is high. But this could be company making.
With a partner, CHM's finance woes no longer exist. I am glad that CHMs priority is to keep this trial moving. Thats the only way they can grow shareholders' wealth.
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