We have previously said that all announced clinical and preclinical programs are fully funded. We have also said we will need additional funding in the future, but that we don’t wish to raise funds to just sit on a huge cash pile - this might make life easier for management but it will cost our shareholders.
One of the things that makes RAC unusual is our attitude towards protecting existing shareholders from unnecessary dilution. It seems a shame so many investors (who should know better) criticise us for not having a huge cash pile. Nothing would be simpler than to raise a mountain of cash via a massively discounted raise and throw the existing shareholders under the bus.
Ann: First Patient Dosed in Phase 1b/2 AML Trial, page-57
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