Kevin McKenna, RBC Dain Rauscher Wessels - Analyst [2]
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Hi Geoff and Kevin, congratulations for getting the share price up here early
this year. My question is regarding the development of the cancer drug. What
types of press releases/work is ongoing from now until the time that you get
into the human trials in the first quarter of '04.
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer [3]
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Good morning Kevin. As you know we've presented data at the American
Association for Cancer Research in ASCO early this year, that really defined for
the first time the in vitro and in vivo effects of this product. We've worked
with investigators at McGill University and other places, and all I can say is,
we're continuing that research program, to continue to better understand the
efficacy of this product and how to position this product in management of
various different cancers. So as that research progresses we expect to be able
to simply make you aware, make shareholders aware of the results as they can
prove. So we don't have any specific timetable in mind other than it's a very
highly active program.
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Kevin McKenna, RBC Dain Rauscher Wessels - Analyst [4]
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Thank you.
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Operator [5]
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The next question comes from Steve Previge (ph) with [inaudible] Financial.
Please state your question.
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Steve Previge, [Inaudible] Financial - Analyst [6]
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Good morning gentlemen.
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer [7]
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Good morning.
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Steve Previge, [Inaudible] Financial - Analyst [8]
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Congratulations on a solid quarter. My concern obviously is the confidence that
you have, and I see that you are being very clear and confident in what you are
saying. My concern is that rhGF in the market place by next year, will you have
enough working capital and I know you've said that your plan is moving along
swimmingly, but do you expect or are you going to [fend off] any -- have any
plans for any future concerns about the funding and in case this does take
longer than expected?
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer [9]
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[Yes, good morning.] No, we are confident that the working capital that we have
right now will clearly get us to that point as an approved product.
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Steve Previge, [Inaudible] Financial - Analyst [10]
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I see the shift in the clinical trials, lowered your R&D by $4m and I think
that's a very promising relief on the funding side going forward. But -- you
know, my clients -- I've been through quite a few of these companies, you know,
have that growing concern always on the funding end and your current cash
position, from what I can see, does look like it will take you out - with
another year and a half?
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer
[11]
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Yeah. I think the reason we raised money a few weeks ago is because we are
always aware that money is - improves the survivability or ensures that you get
the ball across the goal line. And so clearly, we believe we now have the
capital to progress this product very actively.
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Steve Previge, [Inaudible] Financial - Analyst [12]
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Okay. Well, I appreciate the explanation and I look forward to seeing the stock
price as well as the company's fundamentals to increase and add value. And I for
one am very happy to see that, one, you are able to stay on NASDAQ, and two to
raise the Funds that you've had. So, I look forward to some more progress with
the company and I do appreciate your time.
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer
[13]
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Okay, good. Thank you very much.
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Steve Previge, [Inaudible] Financial - Analyst [14]
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Thank you. Bye bye.
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Operator [15]
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Once again, ladies and gentlemen, if you do have a question, please press star
one on your push button telephone at this time. As there are no further
questions, I will turn the conference back to Dr. Allan.
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Geoff Allan, Insmed Incorporated - President and Chief Executive Officer
[16]
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Okay, once again, thank you very much for tuning in to this end of quarter
conference call. We are very pleased with our performance to this point and we
look forward to speaking with you again at the end of next quarter. And once
again, thank you very much, from myself and the team. |
