Roquefort Thera Share Price (ROQ)

So let's look at what we know

· Cash at year end 31 December 2022 of £2,322,974

· Cash at year end 31 December 2023 of £537,322 (however this contained £200,000 from Randox, so lets set that to one side)

So

· Cash at year end 31 December 2023 of £337,322 (£537,322 - £200,000 Randox)

So

between 31 December 2022 and 31 December 2023 ROQ spent £1,985,652 (£2,322,974 - £337,322)

So

£1,985,652/12 = £165,471 AVERAGE monthly burn rate

This average burn rate is made up of IN PART

Research and development costs incurred for the year ended 31 December 2023 were £620,159 or £51,679 ON AVERAGE a month

Group wages and salaries £929,019 + N.I and other Social Security £98,363 + Pension £54,949 = £1,082,331 for the year ended 31 December 2023 or £90,194 ON AVERAGE a month

REMEMBER, ROQ spent £1,985,652 between 31 December 2022 and 31 December 2023, of which over a cool £1,000,000 was taken out by the salaries of the 10 employees (Average number of employees during the year (including Directors full time equivalent)

R&D and wage coats add up £141,873 ON AVERAGE a month, so a burn rate (if ROQ continue the undertake R&D at the same rate/price) of around ON AVERAGE £165,471 isn't far off based on the above figures.

So......

Having £537,322 in the bank 31 December 2023 / £165,471 (AVERAGE burn rate per month) = 3.2 months.

So that would cover January, February, March and a part of April if ROQ continued at the same AVERAGE burn rate.

On the 5th April (1 month ago today) ROQ RNS'd that they had commenced a process of market soundings in relation to a potential fundraise, but had decided to not proceed with any potential placing at that time. I still believe that companies start the process of a potential fundraise because they need funds not because they'd like to simply have a chat about fundraising.

So we are now a month later, another months salary and associated costs have gone out from ROQ ( £90,194 ON AVERAGE a month) and R&D costs (£51,679 ON AVERAGE a month)

So something has changed on the average burn rate for ROQ to survive this long without placing, remember the Company expects the next milestone payment from Randox to be achieved in Q4 of 2024. So there has been no RNS about receiving funds (from Randox)

Either,

The R&D costs have been reduced, i.e. less R&D is taking place.

They have reduced the salary & associated costs, remember the total remuneration of the highest paid director was £305,800 (at year end 31 December 2023).

They have switched off the lights when they go home to save the electricity bill !!!

Anyone have any ideas on how ROQ are still financially operating?

Matter of time before funds run out

Tell us something positive that ROQ have delivered, not promised to deliver, but actually delivered, say in the last 6 months.

No jam tomorrow stuff, what has been delivered.

Over to you.

Still lurking in a dark corner trying to spin negatives as a non holder. I wish i had as much going on in my life as you .. how fulfilling! :)

Well another months salary paid out to ROQ employees.

It's been three weeks now since ROQ apparently, according to the Twitterarti, just went to gauge interest on fund raising and the shares dropped 40%.

We haven't been told they've raised any money or signed any deals so can only presume the money situation it the same - one moths salary and ongoing running costs.

The market hasn't forgotten ROQ needs money, there was no bounce back. Can't see a lot of buying in here until the placing happens.