Brief: Bone Therapeutics: Sufficient Cash To Carry Out Objectives Into Q1 2021

Biosenic SA

06/05/2020 06:23

May 6 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * REG-BONE THERAPEUTICS PROVIDES FIRST QUARTER 2020 BUSINESS
UPDATE
    * NET CASH AT END OF MARCH 2020 AMOUNTED TO EUR 4.9 MILLION.
    * NET CASH BURN FOR FULL YEAR 2020 IS EXPECTED TO BE
APPROXIMATELY
EUR 15.0 MILLION
    * EXPECTS TO BE ABLE TO REINITIATE CLINICAL TRIAL ACTIVITIES
AND
PATIENT RECRUITMENTS FOR JTA-004 PHASE III AND ALLOB PHASE IIB
STUDIES IN EUROPEAN CLINICAL CENTERS DURING SUMMER AND SECOND
HALF OF 2020
    * ANTICIPATES HAVING SUFFICIENT CASH TO CARRY OUT ITS
BUSINESS
OBJECTIVES INTO Q1 2021
    * A TOTAL OF EUR 11 MILLION FINANCING SECURED, FURTHER
STRENGTHENING CASH POSITION
    * INTENDS TO PREPARE A FUNDRAISE IN SECOND HALF OF 2020,
WHEN
FAVORABLE MARKET CONDITIONS ARE MET
    * POTENTIAL DELAY IN PATIENT RECRUITMENT IN BOTH STUDIES
COULD
LOWER EXPECTED CASH BURN AND EXTEND ANTICIPATED CASH RUNWAY
FURTHER INTO 2021

Source text for Eikon:  ID:nGNE22z5cm 
Further company coverage:  BOTHE.BR 

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