What to expect if Pfizer's takeover fails, page-8

RAP did receive a massive amount of global PR from the Pfizer lowball T/O offer at 11.5c and then increased it to 14.6c when the pps was at 9c so I don't think it will drop to below this level and they will have around $4M in funds for this half so at worst will need to do a CR in the next quarter (their cash burn is usually around $2M per quarter but R&D and corporate cost was a lot higher due to the COVID-19 studies and T/O) and this is provided Pfizer don't increase their lowball bid after the T/O is voted against.