Ash, there's enough cash to last until the end of 2017.
By that time, there should be new data. If it's good, finding more money on better terms will not be difficult. If it's bad data, the investment is toast regardless of the cash position.
Not sure why everyone is freaking about about the potential for bankruptcy. They'd probably sell the company before filing for bankruptcy, if it got to that point. The language referencing Chapter 11 or Chapter 7 is there to protect management -- it's a legal disclaimer because there may not be enough cash to go forward if the data is bad and/or they cannot find new cash, or tap into the current line of credit via note conversions.
I've saved a handful of companies that were in Chapter 11. There are several reasons why an investment in DCTH might not pan out. The company filing for bankruptcy before the end of the year is not one of them, in my opinion.
If you believe that the value of the Chemosat system is worth more than $15M, your bankruptcy concerns are unfounded.
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