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Post# of 19309
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DewDiligence

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DewDiligence

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Re: DewDiligence post# 8648

Thursday, 05/08/2008 11:23:24 AM

Thursday, May 08, 2008 11:23:24 AM

Post# of 19309
Cash balance and cash-usage guidance:

The cash balance on 3/31/08 was $11.7M vs $15.8M on 12/31/07; since GTC raised $5.5M in the Feb 2008 direct placement, it follows that $9.6M of cash was spent during 1Q08; $9.1M of this amount was spent on operations, $0.3M to pay down debt, and $0.2M on cap-ex.

Guidance on cash expenditures for the rest of 2008 is $17-19M, which implies cash expenditures for the full year of $26.6-28.8M (consistent with the prior guidance of about $28M). The above figures exclude any up-front payments from new collaborations.

Cash expenditures during 2Q07, specifically, will be small because of ATryn sales to Leo from existing inventory.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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