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Biotech / Medical : Texas Biotech (TXB)
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To: Don Cheng who wrote (197)6/8/1997 3:59:00 AM
From: nelli   of 834
 
Hi Don,

I was introduced to TXB recently and like the story. I read over the most recent quarterly report and one thing concerns me. They have 14 million cash and cash equivalents on hand with burn rate for the quarter of 5 million. At that rate they will last another 3 quarters. If they file NDA this quarter and assuming it takes the average one year (or more) to get approval, will they need to do another offering to survive until Novastan is approved? I haven't read all the posts here but is there a likelihood of another corporate partner in the near future?

Thanks in advance for your thoughts.
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