Spot on. The company WILL need to refinance before end of FY 25 to complete ALL of its phases. Its MC is way, way, way too low with shareholders being heavily diluted.
The elephant in refinancing negotiations will certainly be IP ownership and royalties. Merging or biopharma a bigger biopharma partner may protect its IP, if it is of any commercial value. ATM SNT Board and management have shown little long term financial strategic direction or stability for the company. My opinion only..
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