Yeah, apologies, I think we are at crossed wires in saying the same thing, i.e. the January expenditure indicated by today's report not quite as surprising some seem to think above.
The $6M indicated January spend from the reported balance in fact in keeping or even perhaps less (given higher initial outlay expenses reported) than the $8 - $11M (including R&D refund) qtrly spend guidance (i.e. $15.5 - 18.5M spend guidance excluding refund).
Perhaps explaining the (relief?) rally today - PAR having blown out on previous guidance.
Yeah, apologies, I think we are at crossed wires in saying the...
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