RE: RE: NR - Year End ResultsAgain, nothing negative in this PR concerning Urocidin, no "maybe" vs data, no "hold" on the second Phase III
IMO, they wont need to go to the market for new financing in the near term.
Why ?
- new MCC milestone payments to come this year linked to phase III data + second Phase III debut
- next year : we will be close to take Urocidin to the market = new milestones + manufacturing revenues very close
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"As previously noted, beyond product sales revenues, the Company recorded licensing revenue of $1.5 million in Fiscal 2010 (there was no such revenue in Fiscal 2009), reflecting the
amortization of the up-front payment by Endo upon signing of the Urocidin(TM) license, development and supply agreement. The total up-front payment received, C$22.3 million, will be recognized over
15 years, which is the term over which the Company maintains substantive contractual obligations (per Canadian Generally Accepted Accounting Principles - GAAP).
Milestone revenue of C$14.8 million earned under the same agreement was also
recognized to income during Fiscal 2010.
Fiscal year-end cash and cash "