Ann: Trading Halt, page-105

At the last earnings call, the CFO Josh Muntner said:

I think you have identified correctly that we are shifting, I mean, you can see it in this quarter, our R&D expense down with no significant trials coming on that we need to fund at this point. The trials are going to be: a, supported funding from outside with the Grünenthal back pain or NIH for LVAD, as well as smaller, more nimble trials that should require less burn as well as quicker time to readouts. However, we are shifting some resources for this commercial team. Silviu has already addressed that on this call. It’s a focused effort. And so it’s not a significant source of major burn going forward, but it does shift some of the money over to that bucket. And then we’re also seeing some investment as we are doing – as we are building out our pre-launch inventory. And so there is some investment being made in that area and we will shift eventually to COGS after approval of the product. That being said, we do expect overall cash burn to come down. But we can’t give strict guidance at this point. But I would like to say that the cash on the balance sheet brings us through a number of our upcoming key milestones, potentially including approval. In addition, we have additional access to capital that I mentioned earlier in the call from both our financial partners as well as Grünenthal upon meeting certain milestones that brings us well into next year.