How much more cash does Nikki Haley have for her primary run?

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Nikki Haley lost the Republican nomination battles in Iowa and New Hampshire in January despite spending twice as much on ads and raising millions more than Donald Trump, her presidential rival.

Now she is poised to lose again, in her home state of South Carolina, despite spending $11.4mn on ads there in this month — over $10mn more than Trump, according to AdImpact data. Last month, she raised $11.5mn, compared to $8.8mn for the former president.

On the eve of Saturday’s primary vote in South Carolina, Haley was trailing Trump by about 30 points, according to 538’s compilation of polls.

So far, Haley has run a lean, well-funded, losing campaign that appears to be spending every dollar raised.

Donors like her Reaganite conservatism — and consider her a stronger candidate than Trump in a head-to-head race against Joe Biden.

But how much longer can she run?

At the start of February, the Haley campaign had about $13mn on hand — about how much she spent in January, according to federal filings released this week. Trump had $30.5mn, even though Haley outraised him in January.

Haley is already pledging to fight on to Super Tuesday on March 5, when 15 states award 35 per cent of the delegates for the Republican nomination. She has planned a seven-figure national ad buy, scheduled rallies in Minnesota, Colorado, and Utah for next week, and continues to rake in cash.

Stephen Navarro, a South Carolina real estate investor, told the FT that a fundraiser he co-hosted for her this week was a “big success,” raising $250,000.

“She restores dignity to the presidency,”…