Cash on 30/6/2018: $1.54m Less: cash outflow in September...

Cash on 30/6/2018: $1.54m
Less: cash outflow in September quarter $0.69m
Estimated cash on 30/9/2018: $0.85m

Plus: Options exercising (if BIT stays above 6c next month): $4.7m
PlUs: R&D tax reform: $1m (last year R&D refund of $1.6m received on 1 November 2017)

Estimated total cash: $6.55m
Currently Quarterly cash burn rate is about $0.7m.

MM is looking to a funding partner so current shareholders don’t have keep coughing up!

No CR is needed, imo.

If a big Pharma company were partnering with BIT, it might be involving upfront payments as it is common.


The test results were “a major step to the ultimate goal of curing HIV-1 infection”, Dr Miller said.
But Biotron will need funding to progress to the next stage — and that means finding a partner if the biotech wants to avoid going back to the market for more cash.

“The main next step for us is to partner — we’d like a partner to fund the next stage of development,” Dr Miller told *.
“We’ve had some good interactions and discussions so far, these things take time to eventuate.
“But we’d like a partner to give back to our current shareholders and so they don’t have keep coughing up.”

Already this year the ASX-listed helath sector has seen a number of tie-ups including the Sirtex takeover deal announced in June — worth a mouth-watering $1.9 billion — along with the $500 million bid for Viralytics and the acquisition of RHS among others.
The goal of many health and biotech companies is to be taken over by a bigger party, preferably by what’s known as “Big Pharma” — a somewhat pejorative nickname for the pharmaceutical industry.


https://unauthorised investment advice/health/bio...partner-after-jumping-almost-750pc-in-a-week/