What are the details on the options? I'll look it up if you're not inclined to provide.
I can't see how they are factoring in the R&D refund but I'll give it a rough go? That is expected to come in, in the Dec 2024 QAR.
This is a worry for mine:
This is from the Dec 2023 Quarterly as above.
The spend went from A$883K a quarter to A$2.2M per quarter and I suspect this will increase dramatically with this:
A$9M in cash. Let's say this current quarter and the next costs the same as the last (A$2.2M). That leaves A$5.6M and let's hypothesize that Q4 of this calendar year is say A$3.2M (I am being conservative, I think it will be more) to finish all candidate enrolment for GVHD. That leaves A$2.4M.
Let's assume the tax rebate is A$3M. That takes us back up to $5.4M going into 2025.
On A$2.2M a quarter (GVHD will continue to cost! and I think it will increase beyond this), that leaves less than 3 quarters and 'conks out' in 1st quarter 2025/26 financial year (or before if the costs continue to increase beyond these estimates).
It's cutting it fine, withstanding the options, as you nominated. But it fits, I suppose. Their statements holds water, just - but that's all it has to do.
Partnership and/or CR by the end of this year. This or next quarter, I reckon.
Something has to happen to continue.
(20min delay)