Redeye provides a research update following the Q2 report published by Lipum earlier today. While the company reported a quarterly OPEX above our estimates, the quarter was primarily characterized by continued phase II study preparations. Lipum is finalizing the GMP production of new drug substances and is looking to secure a CRO for the study. With pro-longed short-term financing through bridge loans from its major shareholders, the company will now need to secure its long-term financing in the coming months.
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