Well this is indeed very good news. With such a low administrative spend (just over $100K per quarter), all of the clinical trial costs covered by the Clendon $38.5M funding, and a $400K+ R&D rebate due any day, it appears that the company's balance sheet is in good order.
As soon as that R&D rebate hits our bank we have nearly 1 year of administrative funds, m
Meaning that we can proceed with our clinical trials unhindered. In 1 years time I would expect we would have nearly completed our IRX-211 pain trial. And from what the company has indicated, this trial is now of a size that they could submit the data to the FDA as the pivotal trial to support an NDA application!!!!
No wonder Clendon were keen to fund this with all the risk on their side.
No wonder the major shareholder Cannvalate keeps loading up at every opportunity.
If anyone knows of a more under-the-radar company with better prospects for a 100-bagger, please let me know.
Our market cap of $5M is simply absurd. If we get an NDA for treatment of pain using IRX-211 I would suggest that 100xour current MC or $500M is actually very conservative.
One has to wonder why this is all being kept under wraps so tightly. How is there no awareness of what is being carefully crafted here?
There is zero promotion, so unless you happen to cast your eye across an obscure hotcopper thread where a few loyalists keep pointing it out when they are not themselves loading up,.....you just wouldnt know.
All IMO but I've certainly followed my beliefs with my hard earned.
GLTAH
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