CAPITAL RAISE / BANK BALANCE - why is the funding shortfall (below from release last year) is so urgent at the moment? Not sure it is. Company Release: 'These revised clinical plans have substantially reduced the Company's budgeted trial costs, and with the expected additional R&D tax incentive rebates, the Company now estimates that it can fund both the Company and the trial into 4Q’23. The Company will move forward with the study initiation as outlined above. There is an approximately mid-single digit A$m additional future cash requirement to get to the time point of the reporting of trial results and the Company will update the market upon confirmation of the amount of such additional future funding and how it will be sourced.'
My take is the results over the next 10 months will build momentum - instos will start to take notice. With a share price increase to 'happier levels', the company will then have the ability to do an off-market transaction (investment) for the $500,000 that MAY be required.
Off market transaction may also be a link up with a big funder for a major stake in the company with a funding facility moving forward.
August / September will be the point where funding is on the mind of the CEO as number one importance.
ANP Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
