Ann: Pharmaxis Receives US$7m milestone from Chiesi, page-26

From FNArena,. Sums it up....

"As of June Pharmaxis had $20m of cash, so add another US$10m and that gets very close to the company’s $35m market cap.

In the meantime, Pharmaxis is deploying the funds on a phase-2 program for the difficult to treat bone marrow cancer, myelofibrosis. Above all else, the company’s fortunes hinge on the success of this trial.

While cash outflows will continue as the trial progresses, the Bronchitol business is expected to become cash flow positive from next year."


Not sure what other parts of the puzzle there is.