Biotech Values

[DewDiligence]

MNTA Liquidity and Cash Usage

[Updated for 4Q09 results in #msg-46530217.]


Cash burn during 4Q09 was $11.6M, identical to the rate in 3Q09.
At this rate, the $95.7M cash balance at 12/31/09 is sufficient
to cover operating expenses for more than two years even
in the worst-case scenario.

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   95.7   11.6  #msg-46530217 
 3Q09  107.3*  11.6  #msg-43259757  
 2Q09   72.1   13.3‡ #msg-40259357  
 1Q09   87.9   20.6  #msg-37645888  
 4Q08  108.5†  11.0  #msg-35548032  
 3Q08   95.4   14.0  #msg-33301993  
 2Q08  109.4   14.2  #msg-30936204  
 1Q08  123.6   12.3  #msg-29095630  
 4Q07  135.9    n/a  #msg-26836951  
        
 *$46.8M raised in Sep 2009 financing.  
 ‡A $2.5M reimbursement from NVS booked in June and received   
 in early July is offset against 2Q09 rather than 3Q09 burn.    
 †$24.1M raised in Dec 2008 financing.