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Astex Pharmaceuticals, AŞ Message Board

  • jd_andy jd_andy Jul 30, 2013 1:57 PM Flag

    ASTX's guidance last quarter forecasts revenue to drop 50% or more and heavy losses

    ASTX gave guidance in April forecasting these full year predictions for 2013:
    Total revenues $55M ($22M in 1st quarter)
    Net loss $ (30M) (about break even in 1st quarter)
    Net loss per average share outstanding $ (0.32)
    Weighted average shares outstanding 94M

    The good news is they have cash of $137M as of April, and no plans to sell more shares to raise money. Question: Will they need more funds to do phase 3 tests and if so, in two years?

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    • While your reporting of the guidance is accurate, you fail to note that the 30 million loss includes several non cash items and the hit to the cash on hand is going to be less than $30 million. With that in mind, and allowing for milestone payments on the many partnerships the company has, I believe there will be no need to raise capital unless the heavy hitters (SGI110 and AT13387) don't pan out.

      • 1 Reply to jelly1126
      • Yes, Jelly I would agree this is where the Biotech business meets the road.
        If we had this fall in revenue some years ago we would have been in big trouble.
        Given where the pipe line is and its potential, we can and will “worry” our way through this; an “event” is in evadable. I don’t see us waiting much longer for something to break positive here.

        Sentiment: Strong Buy

    • There Is No Reason For Them To Go Into Phase III Without A Partner.