Biotech Values

[iwfal]

serious up-front commitment of capital to ensure that the program can be brought to fruition on a reasonable schedule

By end of next quarter they would have >$200M in cash or receivables that would quickly turn to cash (assuming sole generic). I can't think of any circumstances under which they need that much cash upfront - e.g. the upfront cash even on a entirely new building would seem substantially less than that. (Yes, there might be substantial costs in addition to the building for equipment but that would seem to come due only after building completion)

So, I would suggest that this is, like it often is in biotech, a sign of some concern about an upcoming binary (in this case the possibility of a second generic).