Investor Relations (IR) Questions: Array Biopharma ARRY
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Answers received: February 2013
1) When is the last time ARRY raised cash through an offering (diluted)? November 2012
2) How much cash (not cash equivalents) does ARRY have? We will disclose this amount this afternoon when we issue our quarterly press release -- stay tuned.
"Currently, we have about $110 million in cash at the end of December." Source: Earnings Call Transcript
3) What and approximately when is the next known catalyst? MEK162 initiating Phase 3 trial in NRAS melanoma (April 2013), Potential data on MEK162 and selumetinib at ASCO (June 2013), ARRY-502 / asthma Phase 2 trial results (summer 2013).
4) What is ARRY's quarterly cash burn?
Stay tuned for updated guidance on conference call tomorrow at 9 am ET.
For the 4th quarter 2012, the company's cash burn was "$29 million... This includes paying Novartis $9 million during the quarter for our annual fractional share of MEK162 development costs". Source: Earnings Call Transcript
5) Does ARRY have an existing line of credit and if so how much can they draw against it? Yes, we have a credit facility with Deerfield for ~$92.6M (further details in 10K and 10Qs) and a term loan and equipment line of credit with Comerica for $15M
1) When is the last time ARRY raised cash through an offering (diluted)? November 2012
2) How much cash (not cash equivalents) does ARRY have? We will disclose this amount this afternoon when we issue our quarterly press release -- stay tuned.
"Currently, we have about $110 million in cash at the end of December." Source: Earnings Call Transcript
3) What and approximately when is the next known catalyst? MEK162 initiating Phase 3 trial in NRAS melanoma (April 2013), Potential data on MEK162 and selumetinib at ASCO (June 2013), ARRY-502 / asthma Phase 2 trial results (summer 2013).
4) What is ARRY's quarterly cash burn?
Stay tuned for updated guidance on conference call tomorrow at 9 am ET.
For the 4th quarter 2012, the company's cash burn was "$29 million... This includes paying Novartis $9 million during the quarter for our annual fractional share of MEK162 development costs". Source: Earnings Call Transcript
5) Does ARRY have an existing line of credit and if so how much can they draw against it? Yes, we have a credit facility with Deerfield for ~$92.6M (further details in 10K and 10Qs) and a term loan and equipment line of credit with Comerica for $15M