Biotech Values

[mouton29]

Perhaps this is naive, but if they really had a specific purpose for a large portion of the cash, possibly they might even disclose that in their prospectus supplement dated December 7, 2010. http://www.sec.gov/Archives/edgar/data/1235010/000104746910010194/a2199632z424b5.htm#uop



But they just have generic disclosure:

Use of proceeds

We estimate that the net proceeds we will receive from this offering will be approximately $ million (or $ million if the underwriter exercises its option to purchase additional shares in full), assuming a public offering price of $ and after deducting the underwriting discount and estimated offering expenses.

We intend to use the net proceeds of this offering for general corporate and working capital purposes. Although we have not yet identified any specific uses for these proceeds, we currently anticipate using the proceeds for some or all of the following purposes: research and development expenses, manufacturing expenses, clinical trial costs, general and administrative expenses and potential acquisitions of, or investments in, companies, products and technologies that complement our business. Pending the application of the net proceeds, we intend to invest the net proceeds in investment grade, interest bearing securities.