Some of these claims are not accurate. Such as..."Company is currently self-funded through the next 12 months with almost $100,000,000 in revenues."
Not sure if he knows but we no longer get Cimzia and Lucentis royalties. And the bulk of the other business is a contract with the government...which means only the 'profit' can go towards our Phase IIs.
Also Xoma is not self funded for a year...maybe a quarter or two instead. If you read their PR carefully Xoma says they have enough money for a year by ADDING the partnership money(which they haven't received yet since we have no partner). Take away that expectation and you can see they only have a qtr or two of cash.