RE: 2.7p per share valuation19 Jul 2023 20:02
Financing required for Phase II
With projected net cash at £2.0m by end FY23 and an anticipated cash burn rate of £11.3m in FY24, we estimate that OCT has an immediate need to raise additional capital. We expect it to raise a total of £40m through FY26 (£15m in both FY24 and FY25, and £10m in FY26), which we have modelled as illustrative debt. Our model assumes that OCT will enter a global licensing deal in FY26 for both indications.