So today Manuso said ASTX will provide interim PhII SGI-110 results in Q2 at ASCO and full results at ASH in Q4 as well as making a Ph III decision on SGI-110 in Q4. Expect to burn through $10mil of the $130mil in cash in 2013. This could be offset by milestones which they present "real time" and do not forecast. They expect a new IND in Q3. Those are the positives.
Negatives are they expect to lose money in 2013 and Manuso is not retiring.
Anyone with more to add as I'm sure I missed a bunch?
1. Dacogen license will expire in May 2013 as expected. No extension. Guess that is the reason for lower revenues in 2013. $60M vs $70M.
2. I know Free is going to love this but looks like AT7519 is finished or partnered out. Not on any of the slides and nothing noted as an event for 2013. Funny thing is that AT7519 is still listed on ASTX website and appears to be a live trial on clinicaltrials.gov. Hoping the recent run-up is because it has been partnered out.
3. Multiple areas where shareholder value can be created in 2013. Lots of interesting trials and compounds moving forward.
I believe the loss is based on the assumption of no foretasted milestone payments. The milestone payments will decrease the loss and at 20M (12 this year) it goes back to breakeven. In any case the story seemed positive and loss or no loss they have a strong balance sheet.