commercial development of vaccines, page-8

Here is the maths:

- As at 30/6/09, Virax had around $800K (net) cash
- In November 09, Virax raised approx $1.2m (net)
- The company is burning cash at the rate of $100K per month

By my calculations, Virax therefore currently has approx $900K in the bank, suggesting (in the absence of receiving cash from Transgene), the need for a further capital raising within 4-5 months (obviously a company is not allowed to trade to the point where it's cash balance is zero, or even very close to zero).

Do you still fancy your odds?