There are so many factual misstatements in your post (intentional ones, no doubt) that it would take a long time to reply to all of them. Hence, I’ll merely comment on the 2Q08 cash usage. From the 1Q08 CC (#msg-29148987, about halfway down):
“During this second quarter, we anticipate in excess of $7 million in cash receipts from our external programs and from the sale of product to LEO, which was manufactured in Q4 and Q1. This should significantly reduce the net cash used in the second quarter.”
Let’s talk biotech! “The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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