RVNC’s pro forma cash balance at 3/31/17 was $152.3M. This consists of: $169.7M of cash (and cash equivalents) on the 3/31/17 balance sheet; ($20.3M) of non-cash current assets net of current and non-current liabilities on the 3/31/17 balance sheet; and $2.9M ($3.0M before fees) raised via the ATM facility since 3/31/17 by selling ~140K shares at an average price of $21.24 (see page 7 of 10Q linked above).
1Q17 cash used in operations was $21.2M.
2017 guidance for cash used in operations continues to be $102-112M, which implies $81-91M burn during the Apr-Dec 2017 9-month period and a cash balance at 12/31/17 of $61-71M (assuming no new financing transactions of revenue sources).
During 2017 to date, RVNC has raised $28.6M in net proceeds ($30M before fees) from the Cowen ATM facility by selling 1.4M shares at an average price of $21.23; $45M remains available under this ATM facility.
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