The Company's Appendix 4C - Quarterly Cash Flows Statement is attached (see link below).
The financial highlights for the quarterly reporting period include:
- Cash as at 31 March 2019 of $ 1.3 million (31 December 2018 $1.1 million)
- Additional undrawn Loan Facilities of $1.1 million
- New related party debt raised in the quarter of $2.5 million
- Net operating cash outflow for the quarter of $1.3 million was 20% lower than prior quarters
The Company's cash position is $1.3 million as at 31 March with a further loan facility available of $1.1 million. During the quarter the Directors provided $2.5m loan to extend the funding runway, providing access to sufficient cash for the current quarter and into the new financial year.
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.
To view the release, please visit:
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies to address significant unmet medical needs in the human health markets with a focus on osteoarthritis and other musculoskeletal disorders, neuropathic pain and dermatology.