Clearly this has already come into question based on mikedel's information he/she received from CVM.
"Was told by a company representative that they have sufficient funding until year end"
"Until year end", is clearly before Q12020, or would you be referring to 1st January 2020 as your cut-off mark?
My financing is simply based on their known cash burn, known money available and know soon to expire warrants.
The amount needing to be raised will probably be 'small' on my supposed August /Sept round, as this should be best used to bridge the gap until positive results, then a larger round may be performed post approval at higher SP levels to allow them the bargaining runway for the 12 months post trial data to hoped for approval, where they should be negotiating for a commercialisation and distribution suitor.
That is how I would do it if I were CVM. I'm not saying it will be a large dilution, I'm just saying that I feel, based on the numbers we have that it is more likely than not, to happen.
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