PTX 0.00% 4.6¢ prescient therapeutics limited

Hey all just a question as this part spiked my interest...

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    Hey all just a question as this part spiked my interest "Prescient ended the quarter with a cash balance of $18.6 million." With a market cap around $40m why does this company have so much cash on hand ? I know they just did a raise, but that's an awful lot for a biotech spec, is this cash being set aside for an acquisition ? Or other ideas ? Genuinely curious...
 
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