Rerate coming17 Sep 2025 07:39
For what it’s worth I ran a quick check on cash…. Based on the info in the last half year financials… I estimate that the risk of running out of cash would not materialise until mid Q2 2026, and only slightly dipping into an overdrawn position (c-405k Q2) My assumptions took there stated quarterly revenue growth rates and forecasted annual as a check, and the cash burn estimate with reduction factored in and starting with 9.2m as published. The cash burn reduction does not look wild c15% reduction yoy. Now this analysis ignores the recent announcement of collaboration with Tempus AI, if this agreement unlocks further growth, which it should with access to more patients, then the cash deficit would decrease, if growth increases from Q4 onwards from by 3% then it reduces deficit cash in Q2 to -200k, if growth increases by 5% to 6% then no cash deficit. As I say quick workings but gives me some confidence (depends on cost control of course).