GTC Biotherapeutics (fka GTCB)

[DewDiligence]

GTC’s Expected Cash Usage for 2H08

--The cash balance at 6/30/08 was $12.2M.

--Guidance for cash usage in 2H08 is $14M (excluding any financing transactions or new partnership deals).

--3Q08 will benefit from the initial $3M payment from Ovation (provided that the deal actually closes).

--4Q08 will benefit from the next $2M payment from Ovation, assuming that the FDA accepts the ATryn BLA for review during the quarter.

--3Q08/4Q08 will benefit from a $3M reimbursement by LFB for the companies’ joint venture. (This is in addition to the $3M reimbursement from LFB during 2Q08.)


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