Biotech Values

[DewDiligence]

IDIX update from JPM conference:

JP Sommadossi implicitly confirmed that IDIX will get a nice chunk of up-front cash from the pending IDX899 partnership. He said that:

• Operating cash burn in 2009 will be about $66M (the same level as in 2008)
• No financing will be required to fund operations in 2009 (although the company might opt to raise money opportunistically)

Given that the cash balance at 12/31/08 was $46.3M, the above bullets imply a cash balance at the end of 2009 of negative $20M absent the cash haul from new deals.