May 6, 2020 / 5:24 AM / 2 months ago

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

May 6 (Reuters) - BONE THERAPEUTICS SA:

* 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: Further company coverage: (Gdansk Newsroom)

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