if we pass mid year without a cap raise I’ll happily eat my words
@ma420, but only 2x months ago with LTP the company says they’re fully funded and do what is, on the surface, a completely unnecessary raise. Not the first and not the last company that I’ll be in to do it.
I think after full oppies conversion we’re at circa $5M. Corporate costs are around $600k/ quarter, research and development per the last quarterly was 350k. If we have 2 quarters left to July/ mid year let’s assume another $2M to spend. First Gal payment is 500k USD, so 800k AUD leaves us with $5M - 2.8M = $2.2M. If we’re expanding pipe and wanting to begin engaging FDA and consultant for planning ISLA-101 phase 3, that’s gonna go down quick. I don’t see us wanting to bring Gal on and not have more cash for too long.
i see the cap raise will be needed for Gal acquisition and funding to sort out ongoing consulting and engagement with FDA for what’s needed to get it to market/ planning or initiating, hopefully, just an animal trial.
then, progressing whatever comes out of this current trial with ISLA.
now obviously some government funding from US throws all that risk away.
we could make it to 2026 probably, but the Christmas party will be BYO.
(20min delay)