Not spent anything? They burnt through $8M in a half and at...

Not spent anything? They burnt through $8M in a half and at current rate only have enough for another 12 or so months of capital. You must be reading a different report to me. Prudent cash-burning companies keep 12+ months of cash on hand to weather any storms, so I wouldn't be surprised to see another raise, especially since you noted yourself that NEA has been prudent with cash! IMHO, the current growth rate in revenue is not enough to stave this off as expenses keep growing. Let's wait and see what the actual FULL HY report says regarding costs. I wouldn't be holding my breath though, and if we listen to what the market is saying and it's price action after this pre-release then I wouldn't be too optimistic about the full report to come...