This topic has been covered multiple times over last few months
Our CEO has been asked the question, and verbally in a roundabout way said, there is sufficient money in the kitty (my interpretation - none is needed).
However I am almost certain she answered this way, with the confidence of receiving revenue streams from multiple sources going forward
Whether this eventuates is left to be seen in the next 3 - 6 months
As day follows night and night follows day, most long term holders are aware a capital raising follows when our bank approaches $30 million in cash
If minimal revenue ($1 - $2 million) is generated before September quarter, gross funds in our accounts will be close to this figure ($30 million). Remember loans totaling $4.8 million dollars are outstanding with $4 million of this maturing and needing to be repaid in October 2023
So just assume the above scenario come December quarter 2023, and a net burn of $4 million in quarter. Total outgoings would be close to $8.8 million for that period, which would bring our cash in bank to $20 -21 million
Will it be difficult to conduct a successful capital raising this calendar year. You be the judge of this
Starpharma have a very hard job ahead of them for the rest of this calendar year
There is no way management will want to approach current institutional shareholders, for I believe, a further $40 million at current share price
Above is the worst case scenario
Best case
We license our 3 amigos (dep docetaxel/cabazitaxel/irinotecan) + pre clinical dep gemcitabine and receive ($300-400 million) from partner/s.
AstraZeneca initiate phase 2 in either B or C trial with AZD0466/AZD4320 molecule triggering milestone payment ($9 million +)
Chase Sun, Genentech and Merck begin human clinical trials with upfront milestone payments
The FDA approve NDA for vivagel and our licensee releases $30 million in an upfront milestone payment
Starpharma improve revenue streams from our marketed products substantially.
The Viraleze human trial is completed
If there is no sign of a capital raising after October quarter then I am pretty confident some of the above events will have been triggered
Disclosure
I am not a financial advisor. The above comments are my opinion only unless stated as facts. DYOR
SPL Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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