$CTSO From CG on YMB: The company will now have close to $90M [= $35.1M as of 06/30/20 + $53.8M from sale + $2.35M from ATM after 06/30/20 - $1.25M in operating expenses] by the CC on August 4th. If they can refinance their $15M in debt (they now have some negotiating leverage with such a strong cash position), expect that they could spend roughly $20-$30M on manufacturing expansion and another $20M - $30M on clinical trials. If they opt to pay off the $15M in debt early instead of refinancing it, their recurring financing expenses will be reduced accordingly. Keep in mind they will not be spending all the money immediately - it will phase in over the next 1-3 years.
  • 4