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As i stated earlier, nearly all Pharma minnows are loss making until they advance into Jvs / licences fact.....the audited report states they raised £650k in January and drew down $500k from Orgenisis in Feb.....Cash looks ok here - see CeO tweets and do some research, not a binary play....
Most early stage pharma minnows are loss making with masses of money going into purely R&D. This changes once trials advance or JVs / licensing deals fall into place.
Fantastic terms in the current market. Warrants at over 50% if you consider SP was up 21% yesterday. BoD truly aligned with shareholder interests. Avi personally guaranteed 50% of loans (wow!) and monies all being used to fund high demand from clients even in current c19 affected markets. Powerful stuff!! Well done all.
Myles McNulty adding as tweeted just now - Hes met with BoD yesterday (as I thought they were in London) and is very impressed......problem will be meeting demand for STAR products BUT financing will NOT dilute existing shareholders - so no placing..... https://twitter.com/MylesMcNulty/status/1235234735598768130?s=20