Welcome. It is best not to assume answers to questions you can get a direct answer from the company. You are totally wrong in your assumption in how much money we have in the bank - the exact number will be released soon (in the next 4C), but it is significant higher than our last 4C of $14.6m due us receiving a $5.25m R&D rebate payment in the December quarter along with our prudent spending.
I agree 100% that it is better to have money in the bank rather than run out. Not to pick on any particular companies, but not managing your capital can get very expensive if you need capital to continue your R&D programs and you find the normal capital markets are shut. Not managing your capital well can result in companies having to do massive discount raises or having to go cap-in-hand to the convertible note sharks. Neither are good for shareholders.
The estimated $9m cost is for the entire trial. A significant amount of this cost has already been spent (it costs a lot to just get to first patient). Yes you are right that the $9m has been budgeted (along with a contingency) and won't be used for other activities.
It is very easy to know what threads you post on by just clicking on your user name. I hope you choose to learn more about RAC - I might be biased, but I think RAC is a very interesting company and if you have any interest in the biotech sector it is worth doing research on.
RAC Price at posting:
$1.28 Sentiment: Buy Disclosure: Held
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