RE: BigAl???26 Nov 2023 22:54
Hi stephen11,
Agreed - There is a lot of misinformation on this board at present with regard to GDRs cash position/runway.
It should be noted that this misinformation is coming mainly from Trolls that 'Do Not' support their comments with any calculations to support their postings, and therefore they are simply 'Meaningless'
Please see below the Numbers I posted on the 30th August 2023:-
Note:- Since this Post, we know that Our GDR will benefit from Devote Funding of c.£1,200,000
Also we have not received any further £300,000 Funding from RF - It would be a pleasure to hear that we do not need any further RF drawdowns due to Funding from other sources ?!! - certainly a question to submit for our BOD next week ?!!
bigAl67
Posted in: GDR
Posts: 2,560
Price: 11.75
No Opinion
RE: Equity prepayment drawdown facility 30 Aug 2023 11:20
Maths for GDR Financial Position, As I see it:-
As of 14th March 2023 we had £2 mil in cash + £2 Mil from RF in April + No less than £500k R&D Tax refund due end of this year.=. £4,500,000
Since April we have also received a further £600,000 from RF (And a further £336,000 due from RF on exercise of their first two drawdowns of Warrants – Date unknown?)
So £4,500,000 + £600,000 (Drawdown money from RF) = £5,100,000 - This alone takes us to September 2024 at Monthly Expenditure of £275,000 - see DEVOTE Funding adjustment below:
Should we receive a further £2,400,000 Drawdown money (8 x £300,000) from RF -
Then £5,100,000 + £2,400,000 = £7,500,000
If we conservatively add in a further £1,000,000 Tax Development Refund for the period Jan 2023 to end of June 2024.
Then our Total cash increases from £7,500,000 to £8,500,000
Then we have Funding from DEVOTE – ‘’to further the ‘validation’ and ‘implementation’ of the new Genedrive® CYP2C19 ID Kit pharmacogenetic test in a time critical clinical setting’’.– saving us our current CYP2C19 Development spend of £125,000 per month – and reducing our cash runaway from £400k to £275k per month !!.
£8,500,000 divided by £275,000 = 31 Months, which takes us from 14th March 2023 to Mid - October 2025.
Then it depends upon Sales Revenue from the UK and Europe; also further Funding from DEVOTE, and
Any Other Funding we receive over this time period.
All going well - Finances Look OK to me !!!