FINANCES ------------- At the end of Q3, they had $7.4M in cash/short term investments. Their projected burn rate per month is approx. $1.5M.
PIPELINE ------------- Presented in this order:
Tesetaxel ------------- Ray had a lot of great things to say about Tesetaxel. One thing he said something along the lines of "and with a partner we will be able to knock Docetaxel out of the race." Worldwide Potential Revenue: $1.3 Billion
G4544 - Oral Gallium Compound ------------- Ray showed another slide here about the potential revenue worldwide after saying good things about the company. Worldwide Potential Revenue: $2.1 Billion
Genasense ------------- Durable Response is more than 6 months "too early to tell" Overall Survival is 9-12 months "too early to tell" Ray said that the Independent Data Monitoring Board ran a very strict futility analysis where they requested only the possibility of statistical significance, with a Conditional Power greater than 50%, with a hazard ratio of 0.69. They passed this futility analysis and the DMB recommends that AGENDA be completed for Overall Survival data.
TIMELINE ------------- AGENDA OS Futility Analysis - Q4 2009 (We just went over this) Genasense: Short IV infusion melanoma trial - Q4 2009, Ray said that they are presenting this data in Berlin this weekend, and that they had...i think the word was "spectacular"...results. He also talked about the drug being Active in CLL and NHL. Initiate: Weekly Tesetaxel Study - Q1 2010 Initiate: Phase 2b confirmatory gastric study - Q1 2010 Initiate: Phase 2a melanoma study - Q1 2010 Initiate: Phase 2a prostate cancer study - Q2 2010 AGENDA Overal Survival Analysis - Second Half of 2010
Then he closed the conference call by saying how they need funding to get through all of this, and that the funding is taking place "at this conference as we speak."
GLTA. Looks like financing should be announced soon.
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