Had a discussion with the MD earlier about funding.
Current cash about $1.3m Option exercise $2.7m Convertible Note $4.0m Total Cash Available $8.0m
Note that the convertible note converts to shares at the average VWAP of the past 5 days. The last conversion was done at 5.92 cents meaning that I the holders consider VLA to represent a good risk at that price. For this reason I think a base is forming here before the shares head higher.
Anyway according to the MD this should be enough to fund the phase II trials which will be conducted under the FDA's protocols.
With regards to news flow, we'll get updates on the IND registration process along the way. The company is also conducting other Phase I trials against other types of cancers (including breast cancer) using Cavatak. We can expect updates on these trials as they progress. I believe if these results are encouraging then we could see the share price rise substantially.
I'll continue trading VLA/VLAO when opportunities arise. I am currently only holding VLAO.
Cheers Aksier.
VLA Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
