Post by
deepoil0808 on May 15, 2024 6:28pm
2 issues of concern???? PP + delays in patients
I read the press releases of the corporation and there are 2 possible concerns:
(a) Timing of PP
- the corporation said that they needed $$$ so they did PP.
But did they need $$$ in March 2024 or not?
Lets look at the cash on hand, per the corporation:
June 30, 2023: 16,100,000
Sept 30, 2023: 14,800,000
Dec 31, 2023: 11,700,000
We all agree that testing was going on in Sept to Dec quarter and company burned through $ 3,100,000 in cash.
There is no reason to believe that cash burn would be any higher for Q1-2024 (Jan to March 2024). So if the company burns another $ 3,100,000 in cash, it would have left them with cash of:
March 31, 2024: 8,600,000
Assuming they go another quarter for Q2 (April to June 2024) with cash burn rate of $ 3,100,000 then they would have $ 5,500,000 in cash and trials would have been done in Q2.
So why the need to raise $ 23 million in March 2024 and not do it when alleged blockbuster results would be annouced in Q3 - 2024. They would have been able to raise at $ 20 per share, not $ 2.35 per share. Why short change themselves and the investors.
The fact that they appeared to rush to get $$$ tells me that results may be inconclusive, hence hiring of PR firm to help with the messaging goring forward. Also would explain why some insiders are resigning too, maybe fed up and do not want to invest more time. Who knows?
My 2nd concern is with the delay in getting participants enrolled. They said that there are 300,000 persons whom are suffering from this terrible disease. It should not take long to get 10 people enrolled.
So why are people delaying entry, why such hestitation?
I suspect that they are not convinced of the results to date and therefore do not want waste their time or energy, only to feel depressed at the end. I do understand their concerns.
I imagine one of the first questions they might ask is? Are the people regaining their mobility? Is there any hope? If answer is vague like we do not know, then I suspect most will be discouraged.
Now add a plunging stock price, some insiders selling, minimal insider buying, changing musical chairs internally with people resigning, tells me that more work will have to be done on the drug.
Humans by nature are GREEDY, when there is no appearance of greed but only appearance of FEAR, then look out.
Good Luck to Everyone,
Please note that this is only my personal opinion, could be wrong or way off. So do your own dd and then make your own decision. I am only posting for entertainment purposes to discuss some topics of interest. It is a fascinating topic and do hope that one day a cure will come around for these poor people.