sp taking another bashing, page-9

I guess i disagree. The facts are they have about $15m cash left in the bank and burn about $1.5m a month, giving them about 9mths of cash. The board will have to address a 'going concern' issue unless Hospira milestones kick in.

EMEA approval wont be until 1Q11 at the earliest, so that will be when a Hospira milestone payment may occur.

FDA review after the June Type A meeting is an informational meeting, no decision will be made on approval. Post that meeting the FDA has 6mths to respond - either approval is given or another approvable letter is issued. Again 1Q11 is best case scenario for approval.

By then, CXS will be running on fumes and they still need money for a launch. Most drugs are loss making in the first year of launch because they have to add sales force (even small sales force are expensive at $250k per sales guy), educate doctors, advertising and marketing.

I think a capital raising is inevitable.