Sep. 9 at 1:25 PM
$BCTX $12.4 million cash as of April 30. They raised
$15 million in July to add to that, but round down to
$14 million to account for placement agent fees.
$12.4 +
$14 =
$26.4 million.
If they burn roughly
$7 million a quarter (which is rounded up from
$6.2 million from the last quarterly report to account for increasing phase 3 costs), that's a
$2.33 million per month burn rate.
$26.4 million - (
$2.33 million * 4 full months have occurred since April 30 =
$9.33 million) =
$17 million in cash remaining as of now. That's a touch over 7 months of runway, which gets them through March.
A handful of conferences coming up... SABCS in December would be the one they may use to raise more cash IMO. If their burn rate isn't as high as my estimate, then they may be able to make it to AACR in April and use that for the next raise.
