Cash at the end of the last quarter was $2.2mil + $1.7mil for the R&D refund that wasn't included in the April quarterly. So they've got $3.9mil in instant cash with a burn rate of ~ $900k per quarter. So plenty of cash to fund existing needs.
Assuming all things positive - the raising may be to fund the next HIV clinical trials. Or to cover costs associated with the FDA application. Does anyone know how much an FDA app costs?
Ann: Trading Halt, page-11
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