Phases I and II are covered if you look at the cash at hand and expected outflow projection, however to finance Phase III would require a CR, but ,if necessary (that's with no suitable take over ) that would probably happen at, say,c?
Or..... another way of thinking about it is to ask: what sp/mc would you give to BOT after successful completion of Phases I and II? (which is expected in about 24 months time by the way) How many new shares would then need to be issued to raise, say, $20m for Phase III?
BOT Announce Successful Phase 1 Study for BTX1503, page-52
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37.0¢ |
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Mkt cap ! $671.1M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 163455 | 37.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 33207 | 2 |
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