They need to spend to develop sales and marketing, so they will need some cash and it's either going to come from partner, dilution, or acquisition. What are the remaining milestones, don't care as much about past ones. Anyone know? Also, I did not listen to the cc did they disucc their US commercialization strategy, alone, partner?
Bio, I believe 50m for approval is the final milestone. Takeda will handle all sales outside the U.S. and AFFY will receive a royalty on those sales. AFFY is handling sales in the U.S and sounds like they are handling this on their own. I believe these profits will be split 50/50. All the info is on their web site under partnerships area.
According to their last qtrly EPA report -- AFFY should exit 2011 with approx $95-100 Million in cash etc. They expect cash, ongoing reinbursements and milestone payment from Takeda to fund operations through 2012.
Upon FDA approval AFFY is due $50 Million milestone payment from Takeda.