Friday, August 08, 2008 12:13:34 PM
$14 million as of the end of 1Q. Nine months at $1.2 million per month is $10.8 million. That would leave $3.2 million, though the burn may increase somewhat (between 500K and a million is my guess) with the completion of tox studies etc for CX717 IV.
RD is their quickest route to the most partnering money. It's not a fast regulatory pathway for a company with this level of funding, it's not something they can take on themselves. A RD partnership is their best alternative to another dreary financing. Another financing is certainly possible if we reach December without a deal imminent, and I would expect them to raise money in early 2009 after a successful RD deal. But raising money at 4.00-5.00 per share is a whole lot different than at current price levels. A more comprehensive deal(s) covering RD plus either psychiatric/low-impact or neurological/high-impact areas,producing some sort of joint venture, is another possibility.
NeuroInvestment
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