First of all, Mark, from the wire report from recent earnings...<<As of June 30, 1997, Cephalon, had approximately $146 million in cash,
cash equivalents and investments.>> While First Call has an estimated $40 million (approx.) estimated loss for remaining FY 97, they only have an estimated $17 million (approx.) estimated loss for the entire FY 98 amongst the consensus of 7 analysts. So it seems that by current estimates, they will have over 80 million in cash,etc., by the beginning of 1999.....They certainly are not going to be out of cash as quickly as you state by any means.
As for your friend, he may turn out to be right, he may turn out to be wrong.......one thing at this point for sure, is he doesn't know what the FDA will decide, it's only his opinion. |
