JP Sommadossi implicitly confirmed that IDIX will get a nice chunk of up-front cash from the pending IDX899 partnership. He said that:
• Operating cash burn in 2009 will be about $66M (the same level as in 2008) • No financing will be required to fund operations in 2009 (although the company might opt to raise money opportunistically)
Given that the cash balance at 12/31/08 was $46.3M, the above bullets imply a cash balance at the end of 2009 of negative $20M absent the cash haul from new deals.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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