Well there you go - that explains why it's been getting hammered lately
In parallel the Company has been extensively evaluating its clinical plans for ATL1102 in DMD with the focus on deploying its existing cash reserves in the most effective manner, to reduce upfront capital requirements and extend its cash runway. The Company believes this capital management focus, including the review of financing requirements and options for sourcing future funding (as and when required), to be prudent given the present challenging market conditions.
The Company remains committed to its DMD program and to initiating the next clinical trial of ATL1102 in DMD as soon as possible to advance its clinical development for the benefit of the patients with DMD and the broader Duchenne community.
In a nutshell, this tells the market imo: - They need more money - They're waiting for markets to turn to get more money - They've delayed the trial - There's now no visible timeline to the start of the trial as they say "as soon as possible" which in ANP's terms could be a very long time imo
To say I'm disappointed is an understatement and again, this all comes back to the CR at 24c that was undertaken - they should have done the complete amount they required in an insto/HNW placement so they guaranteed all the funds!
Baggies will spin today's news in to a positive, but as a realist, this just means more delays & they've told the mkt they're in cash preservation mode so they're also looking to raise money imo
ANP Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
