$32.8 million on 12/31/07 and Not including the impact of
the sale of the Genomics Assets, the cash burn rate for the
first, second, third and fourth quarters was $7.0, $6.4, $5.1
and $3.1 million, respectively. Trending down, preserving
cash (after blowing through $330M).
Genomics Assets? Yeah, right. The sale
didn't hardly look worth doing. I suppose it cuts the
burn getting rid of it, but don't call it an asset.
Anyway, it looks like they can hang on a couple more years--
do or die time for their repositioning program, and
if they find something worth having that's great. Rah rah!
I'm not listening to the CC now but maybe I'll listen
to an archive later or look for a transcript. I don't
have enough hope to tune in, all eager. Big questions
should have been asked years ago, little late now.
I still think a reverse merger for one of the companies
that hasn't been able to IPO (Perlegen) or a similar
company like Melior is a way out too.
meliordiscovery.com |
