The financial highlights for the quarterly reporting period include:
• Cash as at 31 December 2018 of $1.1 million (30 September $2.7 million)
• Net operating cash outflow for the quarter of $1.6 million, consistent with prior quarters
The Company’s cash position was $1.1 million as at 31 December. The sources of funding for the Company over the next 18 months include: loan arrangements such as extension to current loan facilities; milestone payments and anticipated clinical licensing opportunities for Progenza; shareholder loan repayments relating to the funding of employee options exercised as part of the IPO in 2013; ongoing R&D Tax Incentives including forward funding arrangements where necessary; capital raisings and existing options exercised. These sources of cash are expected to provide sufficient funding to support the Company’s R&D, clinical trials and operating activities for FY’19 and into FY’20.
Appendix 4C – Quarterly Cash Flows Statement is attached.