As of May 29, 2025, the Company had access to the following cash resources: Cash at bank $5.7M; Cash in escrow for eRapa Phase 3 program $4.4M; Undrawn CPRIT grant for eRapa Phase 3 program $11.9M; Debt $0.5M. The CPRIT grant, together with Company match means the eRapa Phase 3 program is substantially funded. Based on its latest projections, the Company has sufficient working capital to fund operations into the first quarter of 2026. Issued shares, total voting rights, market capitalization As of May 29, 2025, there were 50,506,308,922 ordinary shares, equivalent to 5,050,630 American Depositary Shares, outstanding. The Company holds zero shares in treasury and therefore the number of voting rights is the same as the number of ordinary shares outstanding. Based on the closing share price on May 29, 2025 of $1.06 per ADS, the Company’s market capitalization was $5.4M.The Phase 3 study of eRapa in FAP is in the final stages of implementation. It will be a double-blind placebo-controlled trial in 168 patients, randomized 2:1 drug / placebo. It is expected the study will be conducted in approximately 30 clinical sites across the US and Europe. The US component of the study will be conducted by LumaBridge, based in San Antonio, Texas and the European component will be conducted by Precision for Medicine. All planned US sites and the majority of European sites have been identified. Recruitment is expected to begin in the next few weeks.
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