Halozyme Therapeutics Inc (HALO)

[anythingteutonic]

This is the first time I recall Ramsay projecting annual net cash burn in a range ($45-$55 million) that depends on whether HALO consummates an Enhanze deal before year-end. Basically, he said that they'll be at the low end of the range or slightly below it if they close the deal before the end of the year; otherwise, they'll be at the high end of the range or slightly above it. I may have misunderstood what he is saying here, but it sounds to me like they have a concrete deal in advanced discussions and know what the likely upfront payment would be if it closes.