Just finished listening to the first quarter call,
which was pretty good--however no fresh meat for
the handful of folks here on SI that follow individual
molecules.
GLGC has SEVEN CANDIDATES FROM TWO PARTNERS in
their drug repositioning service--and they expect to
have 20 from 4 later this year. So that is good--they
only spent 2.5M in the quarter on that segment of
their business, so they seem not to be burning through
tons of cash there to capture whatever royalties and
milestone payments that they sign. A few upfront
payments of a few million however would sure be nice,
heh.
Overall, they LOST 4.1M, HAVE 97.8M CASH in the bank.
I think I guessed on the Yahoo board a few weeks
ago that it would be 3-7M, which of course I just
pulled out of my hat. Off to Wall Street for me,
junior analyst Mike McFarland <g>.
One segment of their business is the preclinical CRO.
I heard "capacity contraints" as an excuse for
the losses there. Brinkerhoff was hired to run this
part of their business. IMHO, they would do well to
sell this off.
The best part of the business is their genomics/Tox
portion, and it looks like that is doing no harm at
all, around breakeven, and I got the sense that they
may stabilize that and turn a profit consistently,
perhaps starting this year. They signed NINE NEW
GENOMICS customers in the quarter, so that seems
pretty dang good.
Overall, this was a very good call considerting
that the folks at glgc seem mainly to want to dot
their i's and cross their t's these days. Which is
fine. They can sexy things up later when the time
is right. |
