So outflow for 3rd quarter was $15m-18mill, then minus the expected $7.2mill from ATO...it's hard to believe the best estimate PAR management could give in late Jan was a $3mill range, however they give a $2mill range 6 months out, for the 4th quarter.
Hopefully the 4th quarter spend is lower because the recruitment doesn't need to start until 1st quarter at the earliest due to the "delays".
My feeling is that they have a JV partner ready, however it will be dependant on P3 being approved for go ahead by FDA. Initial upfront of approx $100mill would be reasonable with milestones at end of P3, TGA approval and then FDA approval.
So outflow for 3rd quarter was $15m-18mill, then minus the...
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