Thanks Wofats ...I read it.
Not sure I agree with the concern in the article but I think he/she has the general information down correctly.
They are worried about $180M cash burn and they consider it a high risk indicator. It's more of something that would need to be looked at closely to decide if it's a risk.
Going to the Statement of Cashflows gets us quickly to the answer.
Operations generated an inflow of $44.6M.
Investing caused a net outflow of $105.3M but in that number was also a $220.4M outflow line representing some of their drug candidate purchase. Most of it is likely EXELON which is expected. That's how they generate future business.
Then you have the financing activities where $64.4M was outflow related to share buybacks. Again, very much expected.
Unfortunately, they mentioned the $180M in cash outflows as a generl risk indicator but they didn't explain the details behind it. Acquiring drugs/intangible assets and buying back shares is all part of the game right now.