Replies:
1. If there is a financing, is it safe to say it would be after results?
Here's what I know (or believe):
a. Active discussions for an EU partnership ongoing. Hard to gauge timing but should take care of the financing issue.
b. If "a" doesn't close soon, they need a Plan B. Some financiers in the March 2024 round are considering early exercise of warrants (w/o the need for the price to exceed $20. As I said earlier, normally the ask would be some extra economics, but that doesn't seem to be the case). They would prefer to see the data first but may have to make a decision w/o. Company cash lasts into 1Q'25, so they're cutting it close.
c. Plan C. This is the one I worry about. If "a" doesn't happen and the warrant holders don't follow through on "b", then we would see a dilutive deal. But the warrant holders don't help themselves by head faking their intentions. So, right now, I think we'll see "a" or "b".
Sorry, I wish I could describe it more simply, but I wanted to express the nuance.
2. I assume this has been expensed to R&D so will juice the GM and bottom line a bit. More importantly, cash flow. Is it enough to be material?
I haven't asked and I haven't tried to determine it from the Q. Of note, inventory stocking following launch should juice early numbers.
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