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Halozyme Therapeutics, Inc. Message Board

  • audphil78 audphil78 Feb 26, 2013 1:38 AM Flag

    Took 10.5% Bank Loan and mortgaged the entire company

    Basically the bank loan they took out was a 'bet the company" loan. If they can't get to cash flow positive in time they either dilute like crazy or the bank owns the company.

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    • Yes, that is definitely scary!! My guess is that this is what spooked large investors today even more than the Jeffries call.

    • Halozyme Therapeutics Issues Financial Guidance For 2013
      SAN DIEGO, Jan. 7, 2013 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO), a biopharmaceutical company dedicated to developing and commercializing innovative products that advance patient care, today announced that the Company ended 2012 with a cash balance of approximately $100 million and expects 2013 net cash burn to be between $45 and $50 million. The Company also announced it secured a $30 million term loan from Oxford Finance and Silicon Valley Bank.
      so let's see- 100M balance with money coming in from Pfizer and Roche- bridge loan of 30M to avoid dilution- a stockholder friendly strategy if you ask me- most biotechs couldn't care less and just set up an ATM or secondary- thanks Greg.

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