SPL 3.19% 9.1¢ starpharma holdings limited

According to the corresponding Half Year Reports:Cash balance 31...

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    According to the corresponding Half Year Reports:

    Cash balance 31 Dec 2020: $70.3m

    Cash balance 31 Dec 2023: $32.1m

    So where did the almost $40m go?
    Given the share price has sunk from $2.50 to 13 cents in the last 3 years:
    Was it worth it?
    What have we got to show for it?
    Who were the winners?
 
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