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Redeye has a positive view of today’s news that IRLAB has received a milestone payment of USD2.5 million from MSRD/Otsuka related to the first dosing of a patient in a Phase I trial sponsored by MSRD, which is expected to conclude by the end of the year. The total milestone value amounts to USD5.5m, and the remaining sum could according to our assessment potentially be paid out relatively soon if all goes well. We expect the capital injection to extend the cash runway a bit further—hopefully until the company can secure a licensing deal.
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