Investor Relations (IR) Questions: Cardium Therapeutics CXM
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Answers received: February 2013
1) When is the last time CXM raised cash through an offering (diluted)? – On February 13, 2012, the Company announced a $5.0 million registered direct offering, share price of 0.28 (approximate 20% discount) with no warrant coverage.
2) How much cash (not cash equivalents) does CXM have? As of end of third quarter 2012 for period ending 9/30/2012 (reported on 11/14/2012), the Company had approximately $4.5 million in cash. Working capital as of 9/30/2012 was $4.8 million.
3) What and approximately when is the next known catalyst?
We are currently focused on the following (in no particular order):
· CE Mark registration for Excellagen (expected first quarter 2013);
· Continued strategic partnering and commercialization of our FDA-cleared Excellagen advanced wound care product;
· Completion of the Phase 3 / registration study for our Generx cardiovascular product candidate (Cardionovo), which is currently underway in Russia (the 100-patient ASPIRE study);
· Leverage our recently-acquired To Go Brands (www.togobrands.com) nutraceutical supplement business (reported 10/1/2012) through internal product development, strategic partnering, and external product acquisitions. As reported November 14, 2012, To Go Brands recorded revenues of approximately $2.1 million for the first 9 months of 2012;
· Additional strategic partner-enabled initiatives include the clinical development of Genedexa (previously referred to as the Excellarate product candidate), a DNA-based Phase 2b/3 product for the treatment of diabetic foot ulcers and LifeAgain, a specialized survivable risk life insurance platform for cancer patients and patients with chronic medical diseases.
4) What is CXM's quarterly cash burn?
Our quarterly operating cash burn varies but for the 3-month period ended 9/30/2012 it was approximately $2.1 million.
5) Does CXM have an existing line of credit and if so how much can they draw against it?
We do not have a line of credit but we do have in place an At-the-Market (ATM) Sales Agreement with Brinson Patrick. Sales under the agreement are reported in our quarterly financial statements filed with the SEC. The last reported sales during first quarter 2012 totaled $1.9 million in net proceeds. No sales were reported under the ATM during second or third quarter 2012.
Company Information:
Press Releases - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-news&nyo=0
SEC Filings - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-sec
Investor Presentations - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-presentations
1) When is the last time CXM raised cash through an offering (diluted)? – On February 13, 2012, the Company announced a $5.0 million registered direct offering, share price of 0.28 (approximate 20% discount) with no warrant coverage.
2) How much cash (not cash equivalents) does CXM have? As of end of third quarter 2012 for period ending 9/30/2012 (reported on 11/14/2012), the Company had approximately $4.5 million in cash. Working capital as of 9/30/2012 was $4.8 million.
3) What and approximately when is the next known catalyst?
We are currently focused on the following (in no particular order):
· CE Mark registration for Excellagen (expected first quarter 2013);
· Continued strategic partnering and commercialization of our FDA-cleared Excellagen advanced wound care product;
· Completion of the Phase 3 / registration study for our Generx cardiovascular product candidate (Cardionovo), which is currently underway in Russia (the 100-patient ASPIRE study);
· Leverage our recently-acquired To Go Brands (www.togobrands.com) nutraceutical supplement business (reported 10/1/2012) through internal product development, strategic partnering, and external product acquisitions. As reported November 14, 2012, To Go Brands recorded revenues of approximately $2.1 million for the first 9 months of 2012;
· Additional strategic partner-enabled initiatives include the clinical development of Genedexa (previously referred to as the Excellarate product candidate), a DNA-based Phase 2b/3 product for the treatment of diabetic foot ulcers and LifeAgain, a specialized survivable risk life insurance platform for cancer patients and patients with chronic medical diseases.
4) What is CXM's quarterly cash burn?
Our quarterly operating cash burn varies but for the 3-month period ended 9/30/2012 it was approximately $2.1 million.
5) Does CXM have an existing line of credit and if so how much can they draw against it?
We do not have a line of credit but we do have in place an At-the-Market (ATM) Sales Agreement with Brinson Patrick. Sales under the agreement are reported in our quarterly financial statements filed with the SEC. The last reported sales during first quarter 2012 totaled $1.9 million in net proceeds. No sales were reported under the ATM during second or third quarter 2012.
Company Information:
Press Releases - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-news&nyo=0
SEC Filings - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-sec
Investor Presentations - http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-presentations