''Financials: Additional funds likely required in FY18
Novogen reported a net loss of A$4.2m in H1 FY17 (six-month period ending 31 December 2016). R&D expenses for the period were A$4.9m and administration expenses were A$4.0m, including costs associated with the GDC-0084 transaction.
We forecast R&D expenditure of A$10.9m in FY17 and A$22.5m in FY18.
With A$18.6m cash at 31 December 2016 and the Phase II trial of GDC-0084 estimated to cost US$25m, Novogen will require additional funding to complete the trial.
We estimate the funding requirement to be A$10m in FY18 and A$15m in FY19 (the FY19 funding requirement could potentially be met by out-licensing Cantrixil at the completion of the Phase I trial, if the outcome is positive).''
IMO,
We need NRT to release an costing and funding update to the market as imo this is causing an negative sentiment towards the share price and could fall well below 4c if the market is kept in the dark about costings going forward..
Based on Edison report estimates - additional capital greater than NRT's entire current market cap will be required over next 2 years
DYOR
NRT Price at posting:
4.0¢ Sentiment: None Disclosure: Held