Looking at the R&D expenditure in the last 2 years of quarterly reports l have found the R&D expenditure for the 12 months leading to the CR in Sept 2020 was reported as $13.2M. In the 12 month period after the CR it was again $13.2M.
The following is from the announcement of the placement
The new funds will be directed to the rapid development, regulatory, commercialisationactivities and launch of the SPL7013 COVID-19 nasal spray as well as expediting the pipeline development of new DEP® candidates with opportunities in oncology, radiopharmaceuticals, Antibody Drug Conjugates (ADCs) and other therapeutic areas. Funds will also be used to accelerate important clinical combinations for Starpharma’s three phase 2 clinical DEP® assets, to further expand the commercial opportunity for these products, including DEP® irinotecan.
The fact that the R&D spend has not increased and the fact that they suggested $8M was required to develop and bring to market Viraleze indicates that expenditure on the Dep program has decreased substantially despite the fact they intended to expedite the program.
As l am not aware of all the facts l will not criticise at this point however this is a question l am putting in for the AGM
SPL Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
