Comment The increase in net loss compared to the previous half year is due to commercial income received in the half year ended 31 December 2016 and nil this half year. In addition, once off expenditure of $1.5 million in respect of consulting fees for the company’s business development and scientific program strategy for 2018 was incurred in the first half of 2017.
Stating that the $1.5 m spent on consulting fees in Q2 was a one-off is perhaps aiming to give the impression that losses will be contained in the next quarter. Not so. They have projected in the 4C that they will spend just as much this quarter ($3 million) as they did in Q2.
Going Concern … the Directors expect the Group will be able to raise additional funds if required.
I think that’s as good as a promise that there will be a cap raise.
PYC Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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