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14th September £1.15 million gross raised @ 1.50p
18th December £0.5 million raised @0.75p
Fully funded until autumn?
Here is the rationale from the rns:
The Directors intend that the net proceeds of the Placing will be used to further expand the scope of the clinical trial of VAL201 to treat prostate cancer and to thereby allow the treatment to more speedily reach its full therapeutic potential and potential anti-cancer impact. The funds will also be used to progress the development of the pre-clinical VAL301 and VAL101 programmes and towards clinical trials.
Fair enough - how does this equate to a reduction in running costs spouted by some on here?
Feel sorry for them really - detached from reality thinking the funding is in place until autumn. Company has burnt through about £4 million in the last year or so and half a million is going to last 9/10 months?
Hope no-one falls for this relentless fantasy.
Fish
The good old days - sheriff Yoda and his deputy multibagger ran Valtown back then. The herd used to believe just about anything he posted...the deal was always 4/6 weeks away.
That was three years ago - last Christmas we had more clowns join the troupe - Mr P and Caspar the ghost - flogged millions of 'golden tickets' @ 3.5 - 4.5p and scarpered.
Uncanny
On 15/11/18 you posted this
'Funding is there until end of first quarter 2019'.
A month later they sent the hat around for another half a million - somehow the company had burnt it's way through £1.15 million (gross) in just 3 months.
Logic suggests that the latest placing will last no more than half that period. If you can show how the cash burn has been reduced please share.
Why do you persist with these bizarre predictions?
Uncanny's calculations
In November the cash burn had reduced by 75% and the company was fully funded until 'early Q2'
There was of course a cash call within weeks. Now the cash burn is mysteriously reduced by a mere 50% and company is funded until autumn. This same poster has been buying all the way down from 6p - trust his judgement at your own peril.
£1million pound net lasted 12 weeks. Make your own mind up.
Six weeks cash left before the next placing so a deal in Q1 is required. Three/four cash calls a year is the norm here despite the alleged '75%' reduction in overheads - couple of weeks back a few punters here said 'funded until early Q2'
Sad and funny at the same time.
Have a great Christmas folks.