And enough cash to last for 2 years, (past final Balance read-out in Q1 2022 at least), not including milestone payments from potential US Approval nor 'interim analysis' milestone payment, which I assume related to Balance interim analysis for potential EU filing.
I still would have expected them to do this raise after the Bridge read-out.
December they had 17.8 million which should have lasted them at least until post-April. On this one will just need to trust they knew something better.
At least now, we shouldn't have anything to worry about until well after USA launch, initial USA revenues and hoped for EU filing.
However while they didn't go into it in detail, I wonder if they will be using any of the new funds to start on OPRX-106 new trial or still wait for approval milestone from Chiesi? They mentioned the expect a net burn of 7.5 Million in 1H2020, but then to see the net burn continue to decrease going forwards. However with that much available cash, one might think they would at least set the groundwork for discussions with the FDA on OPRX-106 to be ready to start in the clinic on a new trial by then end of the year, when hoped for Chiesi milestone for USA approval should be a nice windfall.
They sounded particularly upbeat on the clinical potential of PRX-102 and that's the most important thing. Also I note that while Eyal had previously stated end March/early April for Bridge data, Dror now seems to have put this firmly in April. Not long to go either way.
They now seem to have 25% of the Brazil market which is up from 20% which I believe they mentioned about half a year ago. And with expected 10-15% growth per year over the next 5 years. It's never big money, but every little helps.
