RE:Year end highlights or lowlights You have a lot incorrect in those assumptions but I will have to address it later, unfortunately. But I will once I get the time to do so.
jeffm34 wrote: Cash on hand $40M
More delays for the NASH program
Trogarzo sales in the US were down $5M (17%) on the year
Hiring spree added about $1.5M/quarter in added operating expense
Cash needed over the next year ~ 120M
56M operating expense (14M x 4)
64M due from senior notes
Shortfall of $80M this next year
I would expect a financing sometime in the next couple of months based on their immediate cash needs. Unfortunately the company will not be able to rely on any positive efficacy data from the phase 1 cancer trial to boost the share price before they do another offering. The trial delays will push any significant efficacy data well into the 2nd half of 2022 and possibly early 2023. The only question is if there will be a share consolidation to go along with this next offering.
The only short term catalysts before an offering are possibly a Chinese partnership and the release of more pre clinical data.
The NASH program has been a disaster for the company. They wasted 2+ years going after a phase 3 trial for NASH in the general population. Now they are going back to the FDA to get a phase 2b trial approved. We had someone here screaming at the top of their lungs that it was a mistake to go that route. Surely the company had others telling them the same thing. Instead they push forward with their own plan because they think they know better than everyone else.
It's hard to find any positives from the update today