These numbers prove that GTG does not yet have a sustainable business model given the absolute reliance on licensing which is short term and unreliable.
Even more alarming is the fact that 2/3 rds of licensing revenue was via a resource the future of which is uncertain.
The importance of Brevagen is crucial - if it fails to deliver GTG is in real trouble as I suspect it will be months before another license and the SP will sag accordingly.
