First preference for raising cash would be an upfront payment or product sales. Upfront payment is possible but enough product sales is not realistic. I see little room for a customer getting exclusivity since Amgen has non-exclusive rights to just about every therapeutic area I can think of (see below). A customer could still get exclusive rights except for Amgen, but I'm not sure what that would be worth. Second preference for source of cash would be the advance of the Amgen note from January 18 to March 17. The advance would get us to the end of May 17 allowing more time for business development deals to be finalized. Third would be new financing which would dilute shareholders and require Orbimed's approval. I would expect Orbimed with their complete inside understanding of Unilife's status, if it is as good as some believe, to match the terms of the new proposed loan or restructure the current terms to enhance their position. Orbimed has been very flexible with us and I expect that will continue, if as cadrifter has pointed out several times there is a path to being repaid.
From the Amgen strategic partnership announcement:
Unilife has granted Amgen exclusive rights to Unilife's wearable injectors within select drug classes for use with certain Amgen assets, while preserving rights previously granted to other Unilife customers. Unilife has also granted Amgen non-exclusive rights to all proprietary Unilife delivery systems within the therapeutic areas of oncology, inflammation, bone health, nephrology, cardiovascular and neuroscience.
UNS Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
