RE: There is2 Oct 2019 12:28
Thanks Shady, the Ebers deal post year end. Dan has said in interview that the upfront payment (the deal RNS stated 'a significant upfront payment') was made of £500k.
The company was expecting £3.4m in H1 this financial year, so up to end of Sept 2019. This comprised of:
£500k NXP001 milestone.
£500k Ebers payment
£2m NXP001 clinic trial success.
£400k - I don't know what this relates to.
If we take it that they have received circa £1m from Ebers and NXP001 milestone. (Again in interview Dan said they are seeking the 'remaining £2m', hence the assumption the milestone 500k was paid) Then they can be seen to have covered costs for the year already.
Furthermore, the annual report states that they have provided forward cashflow plans to show how they will operate through the year, even with delayed payments.