RE: Turner Pope Update22 Apr 2020 12:24
continued:
"Based on anticipated burn for the COVID-19 test strip as detailed above and its existing programmes, TPI estimates Avacta should still hold cash c.£8.5m by its December year end. It will initiate the Phase I trial of its lead asset late in 2020 and initial data will be available within a few months, but the cash position means that Avacta is now fully-funded to complete this trial.
Beyond the obvious reputational and commercial, albeit presently unquantifiable, short and longer-term opportunities that could emerge from its new partnership with Cytiva, this development represents a major inflection point along with potential for creation of significant value for Avacta, while it also forwards its partnered programmes and licensing relationships for its diagnostics reagents."