I still maintain my original estimate of Q4/17 cash-burn rate to be within $5 -> $7.5M and the amount of cash left (after liabilities) will be around $2.35/share.
The figure $2.19/share was the most pessimistic figure based on simply 2/3 workforce reduction and nothing else done to preserve the cash. I don't believe this would be the case given management's swift decision in reducing workforce immediately right after clinical failure. While many other biotech companies out there would typically keep the company going on for months or even years and wasting the company cash resources.
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