"Invion Limited (ASX:IVX) is pleased to lodge its Appendix 4C for the quarter ending 31 March 2016. The Company held cash reserves of $0.852 million at the end of March, with cash outflows during the quarter at $1.2 million. Operating and R&D cash outflows continue to be significantly reduced from earlier quarters following the completion of major program activity. Following the recent meeting with the US Food & Drug Administration (FDA) regarding the smoking cessation program for INV102 (nadolol), and reflecting the reduced R&D and operational activity while business development activities continue, the company has reduced headcount to further significantly reduce burn rate in the coming quarters. "
Would love to know their present burn rate. Not much to go forward with.
IVX Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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