The Company maintained cash and cash equivalents of $1.7 million at September 30, 2016. Subsequently, on November 3, 2016, Parent and Biodel (thereupon known as Albireo Pharma, Inc.) completed the Transaction, which provided the Company with approximately $25.5 million of additional cash. Immediately prior to the closing of the Transaction, the Company received an additional $10.0 million investment from certain existing shareholders. In addition, the Companys 2014 Convertible Loans and 2015 Convertible Loans (see Note 12) were converted into Series C Preference Shares, which were then converted into Ordinary shares. Ordinary shares were exchanged for Biodel shares, based on a final exchange ratio of 0.0699. As of November 3, 2016, the combined organization had cash and cash equivalents of approximately $39.4 million.
The Company estimates that its funds will be sufficient to fund its operations through at least mid 2018. Based on the cash balance as of November 3, 2016, there is no longer substantial doubt regarding its ability to continue as a going concern.
Genug Cash bis mitte 2018, das dürfte am Montag anders aussehen als heute :D |