The company has 12.3 months of cash left based on the quarterly cash burn of $1.026 M and estimated current cash of $4.192 M

The company is currently facing significant financial challenges, with a net loss of $4,966,179 for the nine months ended October 31, 2024, and has relied heavily on equity financing and credit lines to support its operations. As of October 31, 2024, the company had $5,698,187 in cash and cash equivalents, which management believes will be sufficient to fund operations for one year from the date of the financial statement filing, alleviating concerns about its ability to continue as a going concern. However, the company requires substantial additional capital, approximately $13 million, for the development and FDA approval of its lead product, the abuse-deterrent fentanyl transdermal system, indicating a need for further financing efforts., Filed At: 2024-12-03