Investor Relations (IR) Questions: Albany Molecular Research AMRI
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Answers received: October 2012
AMRI: I spoke to the company's CFO for the answers to this one.
When is the last time AMRI raised cash through an offering (diluted)? The last time the company diluted was 2000. It has been a long time since they did an offering however... Something to keep in mind, they do have a shelf and they are trading near their 52 week high.
How much cash (not cash equivalents) does $AMRI have? As of 6/20/2012 the company had $18.4 million, $5 million of it is in restricted funds. The restricted funds are an advance they took from a $15 million line of credit with Wells Fargo.
What and approximately when is the next known catalyst?
This company's catalysts are not easy to judge. They don't so much try to develop their own drugs as much as they contract or partner with other bio-tech companies assisting them through the process of bringing their drug candidates to the market/approval. If you do a little digging, you could find out what companies they are currently partnered with and look at when results are expected from the trials those companies are conducting. This would be the closest way to predict the timing of a catalyst for AMRI. If the partnered company continues the trial then it benefits AMRI, if they stop the trial it hurts AMRI because they lose that business. Other than that, the timing of catalysts for AMRI can't really be predicted. They are driven by press releases from the company when they secure new partnerships.
What is AMRI's quarterly cash burn?
The cash burn through the first 6 months of 2012 was $6.6 million. I was told that the income they generate the 2nd half of 2012 will cover the cash burn for the 2nd half of the year... They will break even.
Does AMRI have an existing line of credit and if so how much can they draw against it?
Yes... They have a $15 million revolving credit line with Wells Fargo. They have utilized $9 million of it, but $5 million of that represents the $5 million in restricted funds on the cash the company has.
AMRI: I spoke to the company's CFO for the answers to this one.
When is the last time AMRI raised cash through an offering (diluted)? The last time the company diluted was 2000. It has been a long time since they did an offering however... Something to keep in mind, they do have a shelf and they are trading near their 52 week high.
How much cash (not cash equivalents) does $AMRI have? As of 6/20/2012 the company had $18.4 million, $5 million of it is in restricted funds. The restricted funds are an advance they took from a $15 million line of credit with Wells Fargo.
What and approximately when is the next known catalyst?
This company's catalysts are not easy to judge. They don't so much try to develop their own drugs as much as they contract or partner with other bio-tech companies assisting them through the process of bringing their drug candidates to the market/approval. If you do a little digging, you could find out what companies they are currently partnered with and look at when results are expected from the trials those companies are conducting. This would be the closest way to predict the timing of a catalyst for AMRI. If the partnered company continues the trial then it benefits AMRI, if they stop the trial it hurts AMRI because they lose that business. Other than that, the timing of catalysts for AMRI can't really be predicted. They are driven by press releases from the company when they secure new partnerships.
What is AMRI's quarterly cash burn?
The cash burn through the first 6 months of 2012 was $6.6 million. I was told that the income they generate the 2nd half of 2012 will cover the cash burn for the 2nd half of the year... They will break even.
Does AMRI have an existing line of credit and if so how much can they draw against it?
Yes... They have a $15 million revolving credit line with Wells Fargo. They have utilized $9 million of it, but $5 million of that represents the $5 million in restricted funds on the cash the company has.