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Biotech / Medical : 2011 Biotech Charity Contest
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To: pgo-neil who wrote (38)12/31/2010 10:44:08 PM
From: mcbio  Read Replies (1) of 400
 
ARRY is not running out of cash in calendar 2011. They had $109M in cash and marketable securities as of 9/30/10 and projected a burn rate of $60M for FYE 2011 which ends 6/30/11. I'm assuming that burn rate guidance is net of all of the milestones they expect to receive from their wide number of partnerships. If their guidance is still on track and we assume a burn of $15M/quarter that puts them somewhere in the neighborhood of $35M in cash remaining at the end of calendar 2011. But, that also presumably assumes no new partnerships during calendar 2011 and, given ARRY's track record, I certainly wouldn't put it past them to pull off at least one nice partnership during calendar 2011 to provide some nice non-dilutive capital.
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