Post by
Red~One on Jan 26, 2022 10:19pm
RE:News
"The Company’s principal intended use for the proceeds from the initial tranche of funds that will be received from Alumina is for payment of remaining costs of the Company’s Phase 1 clinical study of R-107, which study the Company expects to complete during Q1 this year."
Quote from today's update last paragraph
Is this why we are waiting to start Phase 1? How does that work ? Phase 1 can typically cost between $4 to as much as $6 Million US .
The tax rebate was 880 AUD, Obsidian maybe $2 million US is first 2 tranches, does Bob have enough cash ?
Be nice to see if anyone knows the definite answer.
Otherwise a positive update.