Redeye leaves a research update following Klaria Pharma’s Q3 2023 report. As we near the end of 2023, we argue that the company draws closer to the many potential inflection points in store for the upcoming year. While Klaria Pharma’s short-term finances are a remaining hurdle, we anticipate a rights issue around year-end. However, we do not dismiss the possibility of a non-dilutive capital injection through an upcoming milestone payment or a potential licensing agreement with its sumatriptan alginate film.