RCE halted trade yesterday pending the release of the results of it's Phase 2 ABSSSI clinical trial.
Given there is no release this morning it looks like Monday for the announcement, which based on the 21 January update on the trial completing dosing, should be fine.
With the results we should get a bit more information on next steps (ie Phase 3 plans), the company needs a share price boost because they will need to raise more money at some point to get through Phase 3 in both Australia and Indonesia. They should be able to get some financing via Endpoints Capital to bring forward some R&D rebates, but that will not be enough.
Alternatively, with Phase 2 results in the bag, they are getting very attractive for Big Pharma. So a collaboration/partnership on development is the alternative funding path through the clinic and to commercialisation. The companies current market cap is chump change for any suitable buyers, so this is a real avenue of exit (sale) or monetisation (collaboration) of the IP.
Disc: I own RL+SM
RCE is in a trading halt pending the release of details on a capital raising.
They are currently well cashed due to financing, so I am surprised the raise has come now, I was expecting one in 6-12 months but I suppose it's safer to do it now and they may have a lead investor ready to go. Will review details when available.
Also, an announcement to "Clarification - Phase I/II UTI/Urosepsis Rapid Infusion Clinical Trial of RECCE® 327" was released. I am not sure why the clarification was needed given it covers information previously disclosed in earlier announcements, but agree that it provides a clearer picture and a great summary of where things are at regarding their rapid infusion clinical trial of R327.
Disc: I own RL+SM
US DoD US$2m Grant (15/7/24)
Confirmation today of the awarding of the US Department of Defence grant of US$2m (A$3m) for further clinical development of R327G (topical application of R327 for burns). It was announced on 8 April 2024 that the US DoD had recommended the Grant, which has now been awarded.
Also included in the announcement was the scoring of the US DoD shown below and some commentary. We don’t have any comparative scoring to gage difficulty but the fact it was an “Outstanding” result indicates R327G did very well and provides some additional independent support to it’s likely effectiveness and commercial value in awarding US$2m to support.
Note also that the SPP offer is out now and open until 31 July at a $0.45 price which it remains above since the announcement of the capital raise.
Disc: I own RL+SM