Re: MNTA’s cash balance and 2014 cash-usage guidance
MNTA’s cash at 12/31/13 (including $20.7M of restricted cash) was $266.4M. The guidance issued today for 2014 cash burn—ignoring any income from generic Copaxone and excluding the $19M in milesotnes expected from BAX—is $30M per quarter or $120M for the full year. (This is up modestly from the 2013 cash burn of $90M due to additional non-reimbursed R&D for M511, the FoB compound no longer partnered with Baxter, and M402, MNTA’s proprietary oncology drug.)
Thus, even in the worst-case scenario where the FDA does not approve MNTA’s Copaxone ANDA, MNTA has more than two-years worth of cash on hand. Clearly, liquidity is not one of MNTA’s major concerns.
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