is capital raising required?

A few on HC have been calling for a rapid capital raising. Two recent announcements (18 & 25 Feb) indicate that it may not be necessary:
1) Fonda revenue due Q3 FY13 will be $US2.9m (approx $A2.8)
2) R&D Tax Incentive receipt 2 states that $A4.4 total received (as Q2 shows $A1.7 received, looks like an additional $A2.7m received in Q3).
3) Total income anticipated for the quarter of approx $5.5m

The Q2 FY13 Appendix 4C shows:
1) approximately $5.6m total expenditure for the Quarter
2) a cash position of $6.2m

At the end of Q3, we should be looking at no change in the cash position.

Thereafter, we can expect further small increases in quarterly income and faster, but gradual, decreases in R&D expenditure as the costs of the Phase 3 reduce (as more and more participants experience disease progression). The question is whether the cumulative quarterly shortfalls will eat up the current cash holdings.

It is possible that the available cash is sufficient without a further capital raising, but even if this is not the case, these announcements reduce the need for raising urgently.