I spent some time reviewing guidance on expenses and ASTX stated expenses would be in the neighborhood of 88M for 2012. They expensed about $40M for the the first half of a year. With several drugs in phase 2, expenses will have increased. Maybe as much as $4M per quarter. We could see a loss in the vincinity of $5M for the quarter.
Revenues of 18M
Expenses of 23M
Loss of $5M
How they treat the gain on SRPT stock could paint a better picture. The thing Dr. M always seems to pull off, is to grow ASTX cash position.