But Clarke, they have $6.4M on hand with another $2.3Million in the short term (BARDA funds and Hologic second payment). The $700,000 from Burnet is over 12 months. The $3.7Million is on completion of Hologic due originally for November odd this year, now April 2026.
They are burning at a rate of $4M per quarter. So the $8.7 guaranteed funds puts them at 2 quarters left to try and get to the Hologic funding. This is assuming no increase to product sales. This puts them to the end of August/September at best before a raise.
Unless they raise or use their credit facility, they are not reaching Hologic end game and we all get screwed.
Ann: Investor Information Session Invitation, page-9
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