Trimeris' cash is quickly approaching a rounding error.
The value in the company is in its new drugs. Take a look at the company's presentation. The results from its lead candidate are pretty promising, true it's early stage, but these sorts of diseases have good animal models (and the data they released from the compassionate use case is pretty compelling), so things look good so far.
The idea is to build a company much like Biomarin or Genzyme, selling very high priced drugs for certain niche diseases. This may sound a bit funny to someone who doesn't know the biz, but it's actually a very, very good business. Insurers don't mind paying because the drugs work extremely well and save lives. And they have the bonus of fewer patent problems due to patent expirations.