Our corporate structure has the advantage of being virtual, allowing us to be more flexible and agile without having to deal with fixed costs. As a result, a greater portion of our cash is dedicated to research and development, allowing our shareholders to obtain a better return on their investment.
Triple Hair has an excellent financial situation. With approximately $1 million in cash on hand and a $369,000 loan from ACOA, we have also recently raised an additional $2 million in our second round of financing.
In addition, given the strong demand for our second round of financing, we have decided to raise an additional $1 million, which we expect to complete in the coming weeks.
If you wish to participate in the financing and reserve your amount, please contact us and indicate the amount you wish to invest.
Also, for those of you who were not able to attend the Triple Hair investor presentations, we offer you the opportunity to watch a video we recently produced. To watch the video, please contact us we will let you know how to proceed.
Since its formation, the Triple Hair team has been working hard to put in place the optimal structure for the Phase III clinical study of our TH07 prescription hair growth drug. We are continuing to make solid progress on the files we are working on and should soon be able to announce the signing of agreements for the contract manufacturing (CMO) of our products and the supply of our ingredients (APIs).
Finally, it’s important to highlight the enormous potential of our TH07 hair growth product in the global hair loss market estimated at more than US$8.5 billion, and to specify that Triple Hair’s activities are focused on the medium term, i.e. a horizon of 3 to 5 years, with the start of the TH07 Phase III clinical study scheduled for 2021. Consequently, we believe that the current economic situation will not have an impact on our future activities.