Re: Charts dont lie! This boat is Sailing!
Polak......"They have about $65M in cash right now...with more partnerships pending."
Polak....."They have raised $50M in the 2 financings in the last 6 months with huge and smart US biotech investors. There was huge demand for these financings."
Thats right Polaks......us$7.5 million more is due soon from Elan's Second Upfront Cash Payment Re: Elans us$200Million Worldwide Collaberation Agreement with Transition.............More cash is in store from Elan upon Initiation of the AZD-103 Phasell Trials scheduled to start later this year.
The $50,000,000 in PP's you mention were done without Warrants and were completed at the then current Market price. Almost unheard of in biotech land.
With a burn rate of $700,000/Month......... Transition will not have to go out seeking money any time soon. The transition from being a Buy And Build Biotech to a Fully Integrated In-House Drug Development Biotech is almost complete...........Remember as well the WWCA with Elan was structured and calculated by Elan and Transition in such a way as to forward Milestone Payments large enough to easily cover Transitions 30% Share of the cost for the AZD-103 Clinical trials.......ie: the Burn rate remains predictable.
GLA