Who would have thought, spending like drunken sailors for literally years has depleted reserved to dangerously low levels.
"In addition to funding available through the Mercer facility, the consolidated entity expects to initiate an entitlementoffer to raise capital before the end of the third quarter of 2024 to assist in providing liquidity for the Company andadvance the clinical development of its lead MagSense® imaging agent towards an IND filing and for a multi-site Phase 2study in the US.If the consolidated entity’s capital raising efforts are not successful to adequately fund the Company’s near-termactivities, the Company may need to cease operation."
It was a little unclear. Is that another CR in the current Quarter, just to keep the lights on? What hope is there to progress the Phase 2/IND Filing, given that most staff have been let go?
Looks like they're going to fake it all the way into the ground.
GLTAH. DYOR.
IBX Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
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