RE:RE:RE:RE:MBC phase 3
I gave you a direct quote from the prospectus from sedar...You obviously did not look at the prospectus for August which has a supplement.
www.sedarplus.ca
USE OF PROCEEDS
The Corporation estimates that its net proceeds from the Offering will be approximately US$13,650,000 after
deduction of the Underwriter’s Fee of approximately US$1,050,000 and the estimated expenses of the Offering of
US$300,000. If the Over-Allotment Option is exercised in full, the net proceeds to the Corporation will be
approximately US$15,742,000 after deduction of the Underwriter’s Fee of US$1,208,000 and the estimated expenses
of the Offering.
The net proceeds of the Offering are expected to be used by the Corporation principally to fund the Corporation’s
ongoing clinical development program, and for working capital and general corporate purposes.
Amounts equal to the net proceeds of the Offering are intended to be used as follows:
US$11 million for the advancement of the Corporation’s clinical development program; and
US$2.65 million for general corporate and administrative expenses.
Business Objectives and Milestones
The Corporation intends to accomplish the following business objectives and milestones with the proceeds from the
Offering:
Advancement of Clinical Development Program
Pancreatic Cancer
Progress towards the enrollment of the first patient Precision Promise’s first patient. The proceeds from the Offering
are anticipated to fund the completion and execution of the definitive agreements, obtaining FDA approval on the
protocol appendix, and initiation of the first clinical site, the anticipated cost of which is US$10.5 million
Breast Cancer
Commence the regulatory and planning process for a Phase 3 clinical study investigating the combination of
pelareorep and paclitaxel versus paclitaxel monotherapy for the treatment of late-stage HR+/HER2- metastatic breast
cancer with the intent to support registration. Subject to FDA feedback, we estimate this Phase 3 breast cancer study
will include the dual endpoints of PFS and OS and enroll roughly 550 patients. The proceeds from the Offering are
anticipated to fund the regulatory process and we expect to receive FDA feedback on this Phase 3 study in the first
half of 2024, the anticipated cost of which is US$0.5 million.