More Monday ONCX ignorance........
The Company believes that it has sufficient cash on hand to fund its operations into April 2018, before the time when the first installment for repayment of our Convertible Notes become due. The exact duration that our liquidity will be sufficient to fund operations depends upon many factors, some of which are outside the control of the Company and is difficult to predict. We expect our research and development expenses to increase in connection with our ongoing activities relating to Prolanta™, particularly as we focus on and proceed with our clinical trials for our Prolanta™ product. In addition, our expenses could increase beyond current expectations if applicable regulatory authorities, including the FDA, require that we perform studies in addition to those that we currently anticipate, assuming we successfully complete our Phase 1 clinical trials, commence and complete our proposed Phase 2 clinical trials. We currently estimate that we require approximately $1.0 million in additional funds to complete the Phase 1 clinical trial, excluding amounts that may be necessary for payment of interest and principal of our Convertible Notes when due. We will still need substantial additional capital in the future in order to complete the clinical trials and obtain regulatory approval of Prolanta™. Accordingly, we will need to raise additional capital to fund future operations and we expect to finance future cash needs
through best-efforts public or private equity offerings, debt financings or corporate collaboration and licensing arrangements. Such funding may not be available on favorable terms, if at all. Failure to raise additional capital could cause us to curtail or cease operations and result in the loss of your investment in our Common Stock.
10K 3/14/18 Page 22
Death smiles on us all. All a man can do is smile back.
AI
