The 2nd Quarter (3/31/19), 10-Q was released recently. Link Here
As of 3/31/19, CVM had over $5.5M cash on hand PLUS $7.6M from 4/1/19 to 5/13/19 warrant conversions. These conversions were not reflected on balance sheet at 3/31/19. Thus, a total of $13.1M in cash to "work with"
They have a cash burn rate of $1.1M (assumes some employees will take stock for payroll) per month. This means they will have enough cash until at least February/March 2020. They likely will not need a cash raise until January 2020. This all assumes NO news of 298/successful PHIII.
The above doesn't include any cash from additional warrant conversions. The more that are converted the better for our cash position.
WHEN 298 is announced and the results are deemed successful, the game changes. They will need a sales team, marketing expenditures, fees for FDA approval, hire new employees, etc. But when its deemed successful, the share price will be large enough to absorb some minor dilution.
Remember, much of this cash (nearly $9M) came from recent warrant conversions. Link Here That "toxic financing" finally paid off!
Warrant Tracker HERE (courtesy of Fosco)
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