Fred - I believe that your assumption about the future burn rate is incorrect. Lim stated that there was sufficient cash to cover 2 years of expenditure at CURRENT burn rates. Of course the now huge array of new in-house targets is going to substantially increase that burn rate in 2009 unless they can find partners to cover or share the costs. My own view is that before the Roche monies today they may only have had sufficient cash to cover the 2009 burn rate. Today's good news should mean that they will also get say an extra $10-20m from Roche next year - resulting in a 2009 year end cash balance of $20-30m. Too small - but with the prospect now of another Roche type deal looking more likely and I'm sure that they will be able to persuade some Insulin companies to come on Board to share costs or make an up-front payment or two I'm much more optimistic than I was yesterday.
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