*Estimated balance as of 8/10/09, the closing date of latest financing.
‡$34M was received from GSK in the quarter for IDX899 license.
During 2Q09, IDIX closed its drug-discovery office in Caligari, Italy and transferred the scientists there to corporate headquarters in Cambridge, Massachusetts; this will reduce cash burn by $3-4M per year.
If we make the simplifying assumption that the cash burn going forward will be the same as the cash burn during 2Q09, then the $68M estimated cash balance as of 8/10/09 is sufficient to cover five quarters of operations even in the worst-case scenario where there is no up-front cash from new partnership deals.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.