Here it is, once again reiterated that they have sufficient cash to last through both readouts. I think it’s worth noting that there has been no pre-result raise, something that is quite common and which we saw with good old PER just before its poor result. I’d say that management are sufficiently confident in the trial being a success based on preliminary data they’ve viewed, that they are more than confident in having “just enough” cash to get them through to the second readout. If they had any serious doubts they’d take the opportunity to conduct a raise and probably use the same reasoning as PER (a company which also had sufficient cash to get them through their readout), as at the end of the day it would be far better to raise at this level than at 10c.
I’m not sure why they wouldn’t be confident either, the P2 trial with quite a large sample showed strong and statistically significant results, and P3 focuses on patients who responded best previously. The P3 trial has already shown a greater than expected with control alone improvement in BCVA on a blinded basis, and an improvement of which was clearly sufficiently noticeable to warrant releasing that information to the market (but rather subtly, clearly not using it to generate “hype”). This management team has gone through this process many times before very successfully, bringing to market some of the most important drugs (which hopefully soon ours will be also be).
Looking forward to results, hopefully another cheap top up opportunity today (would love some underpriced options)