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Thursday, March 26, 2020 8:00:05 PM
Cash & Cash Equivalents
At December 31, 2019, the Company had $4.4 million in cash and cash equivalents compared to $5.2 million at the end of December 2018. In January 2020, Kitov received a $1.5 million milestone payment from Coeptis. This payment, in addition to the $3.5 million financing from Pontifax, Orbimed and Arkin, equates to a proforma cash position of approximately $9.5 million at December 31, 2019.
Combined with the $6.0 mil cash from offering less any expenses since the report, cash on hand would be between $9.5 and $15.5 mil. You’re telling me this company is potentially valued at 0.75-1.1x the cash & cash equivalents? And launch of FDA approved combination athritis/hypertension treatment this upcoming quarter with at least $10 mil revs expected per year from this new treatment thereafter?
Increased my position size...
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