Biotech Values

[DewDiligence]

IDIX Liquidity and Cash Usage

[Added 4Q09 figures as reported in today’s PR (#msg-45350536).]


If we presume that operating cash burn during the next few quarters
will average $13M per quarter (the amount used in 4Q09), then the
$48.1M cash balance at 12/31/09 is sufficient to fund 3.7 quarters
of operations in the worst-case scenario where there is no up-front
cash from new partnership deals.

Operating cash burn and quarter-ending cash balance for
the past nine quarters were as follows (all figures in $M):

 
       Ending  Cash     
        Cash   Burn  iHub reference  
 4Q09   48.1   13.0  #msg-45350536 
 3Q09   61.1*  11.8  #msg-43058248  
 2Q09   51.7   12.8  #msg-39716693  
 1Q09   64.5‡  15.6  #msg-37449765  
 4Q08   46.1   14.4  #msg-35671327  
 3Q08   60.1   20.5  #msg-33234317  
 2Q08   80.6   18.4  #msg-31043547  
 1Q08   99.0   13.0  #msg-28886425  
 4Q07  112.0    n/a  #msg-27413201  
  
 *$21.2M added from Aug 2009 financing.   
 ‡$34M received from GSK for IDX899 license.