May. 13 at 12:44 PM
$GANX For the folks fearing dilution regarding the phs.2. 1 important metric of note in the 10-Q, is the prepayment expense for the use of a CRO in a phs.2. The balance sheet/current asssets, line item--PREPAID EXPENSE has a TOTAL balance of
$1.5M & Note 5 has a cash burn of 317k on the PREPAID EXPENSE/DEFERRED EXPENSE line item to company vendors for the use of CROs. For context, a CRO would typically need a 10-20%--(I revised this down from previous poster discussions) upfront payment before starting a phs.2, 6-9 months in advance of a 3rd qtr. commencement. These line items correlating with @Jwa68 's estimate of a
$30M trial--(conservatively), would increase by
$3M-6M. Gene's reaffirming the 3rd qtr. commencement, in the 1st qtr. update, you can extrapolate a conclusion he/Gain, are expecting an investment banking deal to fund the phs.2, most likely with another readout or soon after the IND acceptance--IMO
