Display MorePromissory note extends cash runway into early Q3 2023
OLPRUVA™ expected to be available by prescription in the U.S. beginning July 5th
NEWTON, MA – June 26, 2023 – Acer Therapeutics Inc. (Nasdaq: ACER), a pharmaceutical company focused on the acquisition, development and commercialization of therapies for serious, rare and life-threatening diseases with significant unmet medical needs, today announced it has received $1,000,000 in funding in exchange for the issuance of an unsecured, subordinated promissory note for that principal amount to Christopher Schelling, the Company’s Chief Executive Officer and Founder, a member of the Company’s Board of Directors, and the beneficial owner of more than 10% of the Company’s outstanding common stock. Acer expects receipt of this funding to extend its cash runway into early Q3 2023.
“This capital infusion will provide additional runway and allow us to continue to execute on our OLPRUVA™ launch and provide additional working capital for the ongoing clinical development of EDSIVO™ and other ongoing initiatives,” said Mr. Schelling. “We expect OLPRUVA™ will be available by prescription beginning July 5 in the U.S. for the treatment of urea cycle disorders (UCDs), involving deficiencies of carbamylphosphate synthetase (CPS), ornithine transcarbamylase (OTC), or argininosuccinic acid synthetase (AS).”
The principal amount of the promissory note will accrue interest at a rate of 6% per annum, and all principal and accrued interest will be due and payable on the maturity date on August 21, 2023.
Am 26. Juni wurde offiziell von 'voraussichtlich 5. Juli' gesprochen.
Stand gestern 'keine Verfügbarkeit'.
Stand heute bis Handelsbeginn 'keine Bestätigung über Verfügbarkeit'
Dies ist interessant, weil in Sachen Liquidität diese offiziell auch nur bis frühes Q3 2023 bestätigt ist. Wobei 'this funding to extend its cash runway into early Q3 2023' zwar auch Interpretationsspielraum lässt - Verzögerungen werden aber nicht gerade für Ruhe sorgen mit Blick darauf, dass man seit Monaten damit beschäftigt ist, die für die jeweils kommenden paar Wochen zu sichern.
Ich bin sicher, die haben die Finanzierung absichtlich so kurzfristig gesichert weil sie keine Einnahmen und weitere Verzögerungen erwarten