Ann: Half Yearly Report and Accounts, page-42

Rather than points of view regarding cash burn or how much the business is spending on clinical trials, why not focus on the really big questions:
1. How likely is a licensing deal on one of the 5 clinical trial outcomes or upon confirmation of a registration trial by the FDA?
answer - very likely
2. What kind of dollars would this deal produce?
answer - $Billions up front, $Billions in milestone payments, pretty fat royalties.
3. Then and only then ask yourself whether the current cash on hand and the time before it’s spent is enough.

You can list the key assets and quite easily estimate the odds and the payout if you know anything about Biotech.
Over to you Ben et al