April 2018 - Cap raise $13 million - 'extend cash runway well into Q4 2019' importantly after AIPAC 2b results.
Cash at bank 30th September - $21 million. Cash burn projected Oct-Dec - $7 million.
Therefore, assuming cash burn remains constant and no revenue (milestones?) cash would run-out end of June 2019. Maths not my strong suit but if correct, cash would run out well before Q4 2019.
Q: why didnt we raise additional $7 million back in April rather than now when markets are volitile/fragile and 'risk off'?
Uncle Sam insto investment - positive move but timing is SH. Is there is a strategic reason other than to extend cash runway? Maybe fast track development of 761?
Marc has done a tremendous job re-inventing and driving the business thus far , but this ill timed capital raising is not one of his or the boards finest moments imo.
2 cent party, page-18
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