RE:RE:Fierce biotechLOOPA441 wrote: Neither party has shared the financial terms of the deal. Bioasis flagged up financial difficulties at the start of the year, warning investors of “a material uncertainty that may raise significant doubt about [its] ability to continue as a going concern.” At that time, Bioasis said it had enough cash to fund its operation “through approximately May 2022.”
As KayakerBC already mentioned, this is standard operating boilerplate language when a company has less than one year of operating funds on the books. I've seen it a million times in many small companies.
Anyways, astute readers (all those who aren't trolls ;) on this board will know that they still have a $7m USD line of credit with Lind that they can withdraw from at their choosing of time and amount. Imo this was always a backstop to ensure good faith bargaining with partners in licensing deals which we are all eagerly anticipating coming in the weeks and months ahead so there will be no need to drawn down from the LOC.