Biomaven, Thanks. Yes, the Merck line of credit doesn't kick in until after an approval, so there's no source of ready cash there. Could the restructuring of the Merck deal somehow provide some immediate cash to Ariad, I wonder? As you said, not getting that $27 mil milestone for the breast Phase 3 from Merck threw a wrench into Ariad's budgetary planning.
I'm having trouble figuring out how Ariad plans to fund their operations past mid-year. An AP-24534 deal would be one source of cash, but trying to rush a deal might not be the best way to maximize its value, and with a lot of interested parties involved, one would think the negotiations could take some time.
That leaves an equity financing, though the CEO says there are no plans for that. I guess a buyout in Q2 is another possibility. Otherwise, with Ariad's burn rate in the $15 mil per quarter range, their cash will be down to ~ $10 mil by mid-year.
