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Wednesday, September 28, 2022 11:30:56 PM
They have estimated the use of proceeds among the various solutions.
It is pretty clear the number one priority of the use of funds will be around Metformin and AMD.
They clearly state below $3.0MM for Metformin/AMD. Even if they spend $2.4MM on G&A, this will give them plenty of runway to monetize Metformin. And of course all forecasted expenses are “estimates” until they are actually made, including the $200k per month G&A.
Retinal Degeneration
We estimate that it will cost approximately $2.0 million in pre-clinical, IND-enabling studies, manufacturing, and other costs related to submitting an IND application. Provided we are able to receive IND approval, we estimate that it will cost approximately an additional $1.0 million to conduct and complete a phase 1 clinical trial of dry age-related macular degeneration (AMD) and Geographic Atrophy. Pursuant to the CRADA (see section of this Prospectus entitled “Product Development” – Degenerative Eye Diseases” for more information), our contribution to the first clinical trial will be a maximum of $115,000, with the balance to be covered by the National Eye Institute.
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