Maybe only $30M cash left including $5M credit line from most recent debt financing.
Phase III is expanding, and cash burning is accelerating.
Zero income last quarter (4Q11), so will this quarter (1Q12). No real partnership in sight, even it is a first-in-a-class drug at phase III development. Why? Because no one really believes a quinolone derivative will work in cancer therapy. We all know there is no free lunch. In cancer arena, there is no easy lunch, we know.
And AML is one of the toughest cancers to tackle. We have seen too many dead in the biotech graveyard.
Why do you think this drug will work? Where is the evidence?