Well PAR's guidance in their last quarterly report was: "Paradigm expects a cash outflow of approximately $10–12 million for the June 2025 quarter, primarily driven by clinical site activations, patient recruitment for the Phase 3 trial, and ongoing operational expenses to support trial activities."
However, based on PAR's recent track record of underspending relative to guidance, I assume they will try to keep their spend under $8.18M, as that would leave them with over two quarters of cash (~$16.38M) and allow them to avoid answering funding-related questions in their 4C.
That said, since PR stated that announcements about funding were "imminent" at the May 29 EGM [1][2], and PAR's answers to questions in the 4C won't be published until the end of July, they might not care whether they finish the June quarter with under two quarters of cash.
For context, here is PAR's recent guidance vs actuals:
| Quarter | Guidance | Actual Cash-Burn (excl. one-offs) | Cash End | Cash Start |
|---|
| 1 | Mar 2025 | ~$12M + $6.3M R&D refund | $6.52M (excl. R&D refund) | $24.56M | $24.78M |
|---|
| 2 | Dec 2024 | under $7M | $3.52M (excl. $15.15M CR) | $24.78M | $13.15M |
|---|
| 3 | Sep 2024 | under $7M | $4.72M | $13.15M | $17.87M |
|---|
| 4 | Jun 2024 | $7-10M | $8.35M | $17.87M | $26.22M |
|---|
[1]
https://hotcopper.com.au/threads/outcomes-of-the-meeting-on-29-may.8603411/?post_id=79236855[2]
https://hotcopper.com.au/threads/outcomes-of-the-meeting-on-29-may.8603411/?post_id=79239630
(20min delay)