well that's pretty good a little over $5M cash if you take into account the $1.5M earned last quarter but not payable until current quarter (still not sure exactly how that works really but anyway). Expenditure a little under $1.4M although i'd expect with R&D only $850k & all 3 partnerships seem to be at a crux with more of the time spent in analysing & future planning from current stages as opposed to screening then it may of been more of one off quarter in required cash flow. Need to remember that for each new partnership it's going to increase cash burn so it really goes hand in hand one up one down. Hopefully Janssesn/J&J deal is setting a precedent though as the structure there seems to imply little if any from the bank to carry through the first stages with Phylogica getting the up-front license fee (as with the other deals) BUT research funding over the intial 18 months is a huge plus & will tighten cash burn - more like this please :-)
PYC Price at posting:
4.0¢ Sentiment: None Disclosure: Held
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