Not a problem. From a cashflow perspective the R&D tax rebate...

Not a problem.

From a cashflow perspective the R&D tax rebate may be a concern as these used to be granted in the following tax year (I am a bit rusty on the most recent rules as it has been a few years since I put one in).

With luck the cash will be enough to get all the work done, my concern is if the cash runs low before the results of the clinical phase come back and the company needs to do a raise. Given what they intend to do I personally would want more of a cash pile if I was running the project. This is not really a critism of the company as they have to work with what they have, but I suspect the cash burn is a major factor in the SP decline - lots of biotech investors don't know much about the science, but they do understand burn rates.