Yeah, I know cash flow positive projections and debt is non-recourse.
Just that if I were on the board, I would advise that they raise capital. Sure, they will be cash flow positive in 2013, but $30m isn't much room for comfort, and currently easy for biotechs to raise capital.
As the old saying goes, "When they pass around the food, it's time to eat"
BTW- I bought a bunch of shares today - I think company is a steal at these levels