Do you see this as commitment made to the manufacturers by Apricus
Partially, yes. But I doubt that the bulk of that amount is for Vitaros units. We have to remember that Apricus has been removing themselves as the acting "middle man" between the Manufacturers and the European partners. In my opinion, part of the $8.3 M, is for samples - for upcoming launches. Also part would be for Vitaros orders in which Apricus might still be a "middle man" ( we can go to the 10Q and find out which partners are being transitioned to a direct relationship with the manufacturer ). But the bulk of the amount, in my opinion, would be for CRO costs / trial costs for the ongoing Phase 2B trial for Fispemifene.
Read the sentences directly prior to the entry regarding the $8.3 M open purchase order.
Between our access to additional capital under our committed equity financing facility with Aspire Capital Fund, LLC (“Aspire Capital”), the $10.0 million borrowed from the Lenders, the $10.9 million received from our February 2015 financing, and cash received from Vitaros® royalties and product sales, we believe we have sufficient cash reserves and access to cash to fund our base operations through the fourth quarter of 2016. This includes the completion of our fispemifene phase 2b clinical trial, support of
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the commercialization of Vitaros®, and other general operating activities. As of September 30, 2015, net open purchase orders totaled approximately $8.3 million.
I sincerely doubt that we have $8.3 M in open purchase orders for Vitaros units. I would be the first person to be happy about looking like a jackass in regards to this. |
