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Derma Sciences Inc. Message Board

  • enantiopure enantiopure Dec 21, 2013 2:51 AM Flag

    DSCI needs money

    Lets start out with what they have:
    As of Sept 30, 2013
    $5M cash + $20M short term investments = $25M total

    What they burn per quarter: ~ $5M

    So lets revise what they have: ~$20M right now

    They dont anticipate completion of P3 until 2Q 2015. $20M cannot last this long. Another large issue is they said themselves they are ramping up the P3 trial and it will cost more money (I wouldnt be surprised to see a 50-100% increase in costs). They were having trouble with enrollment, so im sure they will be spitting out the $$ to try and catch up. Once they do complete the trial, there will be regulatory costs for NDA filing and then more costs for sales reps.

    The $75M shelf is a precursor to an offering. IMO they need the whole $75M to avoid any further dilution from now until PDUFA date.

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