GTC Biotherapeutics (fka GTCB)

[stockdak]

GTCB has anticipated cash to about November-December of this year. There are pending milestones for Atryn HD from LEO and Ovation.

With a cash burn of about $20 million a year GTCB is about $10 million short (6 months) of having enough cash to get to where they would receive milestone payments that would sustain the company going forward.

Ovation Deal possible milestone in 1H 09-2H09:
1.) Atryn FDA approval $4 million ($9 mil - $5 mil in 08).
2.) Initiation of a phase-3 trial in the CABG indication. (some part of $248 million)

From the LEO deal:
$38M for clinical/regulatory milestones in the DIC/sepsis indication (some amount of this could come at the end of PII in 2H 09).
$30M for sales-based milestones (commercial sales are ongoing so these milestones could kick in).