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Biotech / Medical : Apricus Biosciences
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To: mokelumne river who wrote (1843)4/11/2016 3:31:15 PM
From: Mirror Image  Read Replies (1) of 2026
 
James - I have my model for 2016 at them having expenses of $15M. So the low end of yours. They spend $25M in 2015 between $14.6M ( research and development ) and $10.5 ( general and administrative ). 30% reduction of $25M would leave us at $15M per year or under $4M per Quarter.

That would be for this year. They said a 60% reduction in 2017. That would leave Apricus with expenses of $10M between R&D and G&A. Or around $2.5 M per Quarter.

At $2 per Unit in royalties - they would need around 1.3M units per quarter to be profitable in 2017. We must not forget, once you are talking about those many units selling per quarter, we should definitely be triggering sales milestones from the different partners in various territories.


Bottom line: The company's licensees have about 5 - 6 quarters to increase sales by four fold to achieve profitability in 2H17.
1.3 M units is exactly four times what we sold in the 4Q 15 ( 330K units ). With all the additional territories launched, Sandoz back in the picture with their territories ( we haven't had any sales in Germany since July or August 2015 ) and regulatory milestones due to certain territory launches or due to temperature version of Vitaros and I believe it is possible to be profitable. Add Sales Milestones. And it shouldn't be a problem.

And note the above had NOTHING to do with approval of Vitaros in the U.S. Not taking any part of the $25M possibly due into consideration. This would be above and beyond!

Now - Drive the frisking BUS to our destination and no more change of courses ( I believe you still remember my old Bassam Damaj road trip analogy )!!!
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