Biotech Values

[BTH]

CLDX They finished the quarter with $78 million in cash and the CEO says this is enough to get them into 2014 (and they have 4 compounds in clinical testing, two of which are very late stage and require large money to run).

How does this guy think that the market isn't already anticipating a fund-raise in the not too distant future. Because, partnerships certainly don't spring up over night and I don't think there is a '011 partnership coming for at least the next 6 months (if that).