Thanks, I got it backwards, not an accountant either. Point being that as a non-revenue biotech, if they report less than a year's worth of cash that could trigger a negative disclosure on the risk of their "going concern" being in jeopardy. And if there is a sale or deal in works, I would think, for example, if Amgen management takes the proposal to their Board of Directors, they could get push back by way of "Why would we pay XX for a company that doesn't have enough cash to sustain itself such that its auditors believe it may not be a going concern within the next year."
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