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DewDiligence

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DewDiligence

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Re: Bickema post# 207636

Sunday, 01/08/2017 7:13:24 PM

Sunday, January 08, 2017 7:13:24 PM

Post# of 251799
Re: RVNC liquidity and cash usage

From the 1/7/17 PR in your post:

...December 31, 2016 cash and investments balance was $185 million... now expects...cash and investments to fund the company into the third quarter of 2018.

The prior guidance for the end-2016 cash balance was $164-174M (#msg-126301216), so the actual $185M balance (above) shows that expenses are under control. Cash burn during 4Q16 was $15.3M, slightly less than the $15.6M during 3Q16.

The guidance that RVNC has sufficient cash to last until 3Q18 should not be taken literally, but it's a lengthening of the cash runway relative to the prior guidance of 2Q18.

“The efficient-market hypothesis may be
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