Ann: Virtual Investor Briefing, page-32

4 Good Questions QQ. I want to know that there is substantive BD activity with Elanco that should lead to a near term material agreement that is a game changer. I will add one more:

#5. Is net cash burn of approx. $1M per quarter or less projected for remainder of calendar 2020? Confirm no requirement to complete a credit raise in 2020 with $3.2M cash at March 31.

With tax loss selling over in < 30 days and likely the large majority of investors in the last 2 credit raises out or committed to the end game we should see a tighter capital structure and stronger price action in Q1 2020/21

After taking forever to complete the Phase 2b and selling discounted stock to uncommitted flippers while screwing CR option holders lets hope management gets things right going forward.