How can they possibly still have $5m in cash??? Impossible. That is the figure quoted end of March. According to their website they still have a CEO, a COO and 3 VPs as well as some staff (one would assume) in Germany working in the lab???? People do not come cheap and surely they have spent some cash on trying to resolve the manufacturing issues and in hiring of consultants to give them advice on this issue??
If they have no antibody to run a clinical trial, then they are back to early-stage preclinical assets. How can they develop these assets with little cash and how can they bring in new assets with little cash and a stock price on the floor?
Ann: Manufacturing Update - Clinical Trial Remains on Hold, page-16
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