From the CEO AGM Address...At 30 April, Neuren’s cash position...

From the CEO AGM Address...

At 30 April, Neuren’s cash position was NZD4.24m. As Richard noted, with the current programmes and new initiatives over the next 18 months, we are considering a range of funding alternatives, including additional funding from the US Army, other sources for non-dilutive grants and the possibility of introducing strategic investors. If additional equity funding becomes necessary, we are confident that we have the support and commitment of our major shareholders.

A while back I mentioned that Autism Center of Excellence (an NIH grant program) and the Simons Foundation Autism Research Initiative (www.sfari.org), that were featured on an old presentation (i.e., ACE, Simons), are certainly both potential funding sources for clinical trials of NNZ-2566. Add to that, additional funding from the US Army, Fragile X Research Foundation as well as the possibility of introducing strategic investors and I think Neuren will be just fine. If they absolutely require additional equity funding support from shareholders, I don't think that it will be much and the company will have full support. The company haven't yet determined the quantum or timing but I believe they are confident of being able to raise funds. If they weren't, the Board wouldn't have decided to move ahead with the Fragile X study. Keep a very close eye on Fragile X.

Tony