Mast Therapeutics Inc (fka MSTX)

[LastLurker]

I understand that they haven't begun the stability testing on 514 yet. They are waiting until after the FDA meeting to see if they need to do additional tests. So it's going to be 15 months at a minimum before we can begin to anticipate an NDA for 514, probably much longer IMO.

Regarding the new offering: unless I missed it, the cash (now about $53M) isn't pledged to the target company. This was a stock swap. Are they establishing a reserve of $15m for the Phase III expenses?

If not, is there another acquisition unfolding? Why do they need all this cash? The burn rate is only $1.5 a quarter.

Maybe we'll get some answers today at the conference.

-The Last Lurker-