TSXV:BTI.H - Post by User
Comment by
prophetoffactzon Dec 23, 2022 1:23pm
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Post# 35189897
RE:RE:RE:RE:RE:Some Thoughts in Summary
RE:RE:RE:RE:RE:Some Thoughts in Summary"Management estimates that the current cash balance (c £3.6m) will provide operational cash runway until Q123, which could extend to Q423 on successful conclusion of the fund-raise and acquisition." Edison Group
It is very dumb to put a deal together like this and only provide it with a cash runway to Q4 2023. With one placee alone they raised US$10 million upfront. They should have been able to find more than one firm interested in this deal. Armisitice Capital is a very strong fund it is not like Ladenberg Thalmann was scraping the bottom of the barrel to raise funds. That only this amount of cash is being raised appears to speak to Biodexa's high confidence in additional cash in the near term potenially through deals(eg. J&J, Neuremedy, cancer, etc.), deal monitization, or the exercise of the US$10 million warrants by Armistice Capital. There would appear to be more money expected near term that can secure a cash runway in a very difficult time for biotech and to reach hard data milestones on the lead clinical assets.