Will VNRX do another capital raise before EOY23?
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Will VNRX do another capital raise before EOY23?

Jul 29, 2022 - 16:35

I think yes, they will because on June they said they will reach break even for Vet in 2-3 years. They are currently burning $6m/q cash and have have cash for almost 4 quarters. This raise gives them another quarter which gives them money for almost 5 quarters run rate.

Why yes:

  • They are consistently taking longer to execute than they say (so 2-3y probably means 3-4y).

Why no:

  • They are probably signing another HSKA-like deal this year which will give them another big pile of money.
  • They are going to sign deals for their other products which will bring in more money.
  • Revenues will grow quicker than expected because there is no real competition or replacement product for this so it will get adopted very quickly.