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Spectral Medical Inc T.EDT

Alternate Symbol(s):  EDTXF

Spectral Medical Inc. is a Canada-based late-stage theragnostic company advancing therapeutic options for sepsis and septic shock. The Company develops and commercializes a treatment for septic shock utilizing its Endotoxin Activity Assay (EAA) diagnostic and the Toraymyxin therapeutic (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s EAA. PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. It has pioneered the development of biochemical markers for the clinical syndrome known as septic shock. It is continuing its legacy business of manufacturing and selling certain proprietary reagents. It develops, produces and markets recombinant proteins, antibodies and calibrators. These materials are sold for use in research and development, as well as in products manufactured by other diagnostic companies.


TSX:EDT - Post by User

Post by MMABStraderon Aug 23, 2022 3:42pm
349 Views
Post# 34915141

Expect an announcement re financing in the next two weeks

Expect an announcement re financing in the next two weeksAs of the end of 2nd quarter (June 30, 2022) Spectral had $3,466,000 cash on hand (per their last earnings announcement). The company’s burn rate is approximately $3,000,000 a quarter. That means they will run out of money in October without a cash infusion. Financing for operations going forward will have to be in place by the end of September to cover operating expenses al least through year end.

I believe the company will have to disclose their source of funding by September 9, or sooner. My hope would be that warrant holders will exercise their warrants. I believe there are about 30 million outstanding warrants. Most probably exercisable around 40 to 45 cents a share. If all were exercised they would probably raise enough cash to cover operating costs until the end game.

Exercising of the warrants should not cause further dilution to share value since I believe most of us believe those warrants will be exercised sooner or later anyway.


 

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