Some tidbits from the 10-Q:
At December 31, 2015, we had $6,183,000 in cash and cash equivalents.
As of December 31, 2015, the available balance (Aspire) is $27.1 million.
The Company plans to incur expenses of approximately $22 million over the next twelve months, including approximately $17 million for clinical trials.
Total outstanding shares: 119,930,536
Presently the Phase 1 trial is active but not recruiting patients. We may continue the Phase 1 study while also requesting FDA permission to advance to a Phase 2 study. The purpose of continuing the Phase 1 is to further study Kevetrin's mode of action and its potential benefits to patients.
We have requested budgets and timelines to help us with the decision making process as we are interested in engaging in clinical trials for the use of Kevetrin in leukemias. In January 2016, we had discussions with the principal investigator and are awaiting further details.
The Company is now engaged in activities necessary for beginning the Phase 3 study. Manufacturing of Brilacidin has been completed and is presently undergoing quality control and stability testing.
On November 5, 2015, the Company issued 1 million stock options to a law firm for services, valued at approximately $432,000, based on the closing bid price as quoted on the OTC on November 5, 2015 at $1.36 per share. These options were issued with an exercise price of $1.70 and vested immediately, with a three year option term. These options have piggyback registration rights.
At December 31, 2015, we had $6,183,000 in cash and cash equivalents.
As of December 31, 2015, the available balance (Aspire) is $27.1 million.
The Company plans to incur expenses of approximately $22 million over the next twelve months, including approximately $17 million for clinical trials.
Total outstanding shares: 119,930,536
Presently the Phase 1 trial is active but not recruiting patients. We may continue the Phase 1 study while also requesting FDA permission to advance to a Phase 2 study. The purpose of continuing the Phase 1 is to further study Kevetrin's mode of action and its potential benefits to patients.
We have requested budgets and timelines to help us with the decision making process as we are interested in engaging in clinical trials for the use of Kevetrin in leukemias. In January 2016, we had discussions with the principal investigator and are awaiting further details.
The Company is now engaged in activities necessary for beginning the Phase 3 study. Manufacturing of Brilacidin has been completed and is presently undergoing quality control and stability testing.
On November 5, 2015, the Company issued 1 million stock options to a law firm for services, valued at approximately $432,000, based on the closing bid price as quoted on the OTC on November 5, 2015 at $1.36 per share. These options were issued with an exercise price of $1.70 and vested immediately, with a three year option term. These options have piggyback registration rights.
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