Scott tried to hedge this question but he did say that unless they have a new drug they will have enough money until end of 2014. I don't know if I buy that it,but the caller really pinned him and did not let go until he answered. At first he tried to bobble and weave but it did not work because the caller had him on the hook. I know that I mentioned this in a prior post,but Scott does not impress me as the biggest go getter, I hope I am wrong got a lot of money riding on the company and science.
I think Jim Kennedy seemed satisfied with the answer at the end.
They had enough money for nexxus, but would be dead on empty if Pfizer didn't opt in, but they didn't have enough money to finish Lpathomab pre-clinical work, and get it to phase 1.
Now they are loaded enough that even if Pfizer doesn't opt in, and even if they don't get a lot of DOD or NIH help, Lpathomab can get to phase 1.
They are playing it ultra safe. If things go as planned they should be able to get to 2015 (unless they start a new drug program). If Pfizer doesn't opt in they will raise money in 2014 no doubt, they won't wait for the last minute.