Cash burn in the last financial year was ~$4.15m, suggestive of a 3.5 year cash runway, but costs will only increase as the company approaches and enters clinical trials in its CAR-T program.
Chimeric is currently in Phase 1 for its lead CAR-T therapy– its cash burn for the last half was ~$7m.
Another company in which I’m invested, PYC Therapeutics, is aiming to complete pre-clinical and commence Phase 1 on its lead program later this year. It's working through manufacturing, toxicology etc. at the moment. The last half year (H1 2022) R & D and corporate and admin spend was ~ $12.5m, up ~$5m on H1 2021 as the company works to complete the requirements for submission of an IND to commence Phase 1.
So, while I recognize that SYC is prudent in managing the company’s cash, I cannot see a cash burn of just $4m p.a. being sustained.
PTX Media related, page-334
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