Originally Posted by tonypizza
But it should work! And they tested it in the temples. But they did make sure their funding was secure before releasing these results, so maybe they know something went wrong.
I hate my life
The funding announced on March 29th was to meet current operating expenses and provide for an adequate amount of margin of safety in respect to their cash position. In their annual report, they have stated that they need to raise $5-$10 million for phase IIb trials. In the press release, it is stated that they intend to close "additional tranches" in the same terms as the initial tranche.
It is possible, and in my opinion probable, that the same group will provide the additional financing and could very well have everything all wrapped up but they don't want to tip off the results yet, as announcing securing the funding would be tantamount to saying that the phase IIa results were very good. So, they are probably holding for the moment.
At the end of the day, we will all just have to sit and wait until the end of April.