RE: 'very low cash burn'29 Sep 2023 18:51
Val is not worth 6p more like 25,30,40p or more if a few outcomes go our way very soon which it will.
This will be reflected if the 201 deal gets done and they sign a few decent contracts or we get an update on CLX.
Therefore suddenly it will be 25/30 million market cap at 25/30p or even higher. Nobody knows the exact price but to only burn 2 million when you are developing drugs, doing research to bring new ones in, managing a lab with assets and offering a service to clients is very low. Compare it to other companies like 4D burning 55 million plus a year or likes of APTA who were burning 6 million a year with low revenue and no compounds.
The cash issue is not an issue if 201 gets done. Many factors come into play if 201 gets over the line which it is clear is highly likely based on the presentation. If they need cash it could be done at multiples of the current SP and even without 201 at a higher SP so not an immediate concern.