Antares Pharma, Inc. (ATRS)

[Jon20ABX]

Bio Pete,

Per Dr. Wotton, the last cash raise was supposed to be enough to cover the product development and go-to-market requirements for at least the products being developed in the pipeline (known products and otherwise), and I still believe that to be the case. Consequently, no need to obtain more cash, either through a secondary or taking on debt.

I took the "accelerated product development" comment to simply mean that by having the additonal cash obtained from the secondary, they wouldn't have to delay any of their development or expansion plans while waiting on profits from Otrexup (and/or other) to do so. That is still my interpretation.

Antares has plenty of cash to complete their expansion, development and go-to-market plans for Otrexup, QST (this will include a marketing partner - I don't foresee an issue securing one), QSM, and more. I believe that by the latter part of this year, the $$$ being generated by Otrexup will do more than offset the $$$ being spent for product development, with profitability becoming a reality by Q4, maybe sooner.

I'm also of the strong belief that significant milestone payments will soon (as in 2014) be received by Antares that will help bolster their already strong cash position. Those will come from Leo, Teva (multiple drugs in the hopper that will either be approved, launched, or both), and hopefully from Pfizer via the topical Advil product (or so I speculate).

This will be a fun year for the "long" Antares investor. Here's believing next week will be a good one for us "longs".