Biotech Values

[dewophile]

If we assume that January-February 2019 had operating cash burn at the midpoint of this range, then $25.5M has been burned between 12/31/18 and 2/28/19, leaving 2/28/19 working capital of $297.0M.

The earnings PR mentioned 295.5M as of 1/31/19, so the cash balance as of 2/28/19 is certainly less than 297M. I'm assuming the cash burn is higher the first half of the year as they hire a small army of writers etc. to put together the NDA