Most of the money ( $7m) has already been raised from institutional investors , just waiting for the rights issued shares to go through next week to raise another $3.4m which won't be a problem at all imo. So they should have around $11m cash by end of the month.
PTX’s CEO, Steven Yatomi-Clarke said, “We are delighted with the caliber of investors we have attracted in this capital raising. They represent some of the most sophisticated biotech institutional investors in Australia today and reflect the fact that PTX has one of the most advanced and prospective clinical-stage pipelines on the ASX, with three Phase 1b/2 clinical trials in breast cancer, ovarian cancer and acute myeloid leukemia (AML) at prestigious US medical institutions.”
