Investor Relations (IR) Questions: Gtx Inc GTXI
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Answers received: January 2013
The following answers are the result of a phone conversation with Mark at GTXI. A followup call was placed to Mark after the notes were taken and written up to confirm their accuracy.
1) When is the last time GTX raised cash through an offering (diluted)?
June 2011 priced at $4.75 per share x 10,000,000 shares offered.
2) How much cash (not cash equivalents) does GTX have?
The company reported $38 million in cash and cash equivalents on September 30, 2012. In October 2012 the company sold the drug Fareston, a breast cancer drug to ProStrakan Group for $21.7 million adding another $19 million to the balance sheet after paying expenses related to the sale.
3) What and approximately when is the next known catalyst?
The company has a number of potential catalysts in the first half of 2013. However, 2 of the major catalysts are:
a) Results from the phase 3 study enobosarm (Ostarine®; Gtx-024). The company believes the study will complete sometime in May 2013 with results published in summer 2013.
Enobosarm is an oral selective androgen receptor modulator that GTx is developing for the prevention and treatment of muscle wasting in patients with non-small cell lung cancer.
b) Results from the phase 2 study Capesaris® (Gtx-758). The company believes the data should be available for this study sometime in June or July 2013.
GTx is developing Capesaris® (GTx-758), a selective estrogen receptor (ER) alpha agonist, for the treatment of men with advanced prostate cancer.
4) What is GTX's quarterly cash burn?
The company does not disclose quarterly cash burn but has said that has sufficient fund to carry it through mid 2014.
5) Does GTX have an existing line of credit and if so how much can they draw against it?
The company does not have an existing credit line.
The following answers are the result of a phone conversation with Mark at GTXI. A followup call was placed to Mark after the notes were taken and written up to confirm their accuracy.
1) When is the last time GTX raised cash through an offering (diluted)?
June 2011 priced at $4.75 per share x 10,000,000 shares offered.
2) How much cash (not cash equivalents) does GTX have?
The company reported $38 million in cash and cash equivalents on September 30, 2012. In October 2012 the company sold the drug Fareston, a breast cancer drug to ProStrakan Group for $21.7 million adding another $19 million to the balance sheet after paying expenses related to the sale.
3) What and approximately when is the next known catalyst?
The company has a number of potential catalysts in the first half of 2013. However, 2 of the major catalysts are:
a) Results from the phase 3 study enobosarm (Ostarine®; Gtx-024). The company believes the study will complete sometime in May 2013 with results published in summer 2013.
Enobosarm is an oral selective androgen receptor modulator that GTx is developing for the prevention and treatment of muscle wasting in patients with non-small cell lung cancer.
b) Results from the phase 2 study Capesaris® (Gtx-758). The company believes the data should be available for this study sometime in June or July 2013.
GTx is developing Capesaris® (GTx-758), a selective estrogen receptor (ER) alpha agonist, for the treatment of men with advanced prostate cancer.
4) What is GTX's quarterly cash burn?
The company does not disclose quarterly cash burn but has said that has sufficient fund to carry it through mid 2014.
5) Does GTX have an existing line of credit and if so how much can they draw against it?
The company does not have an existing credit line.
Answers received September 2012:
Hello, Mike. I have seen your questions and I am providing you the answers we are able to disclose based on publicly available information. At June 30, 2012, we announced we had approximately $60M available in cash and cash equivalents. We also stated that we had sufficient proceeds to last us at least 12 months.
The last time we raised equity was late June 2011 and we raised approximately $50M.
The most anticipated near term catalyst for our stock will be data from our two ongoing pivotal Phase III clinical trials of enobosarm to prevent and treat muscle wasting in non-small cell lung cancer patients which we have said should be available in the 2nd quarter of 2013.
Thank you for your inquiry.
Henry P. Doggrell
VP, General Counsel
GTx, Inc.
Hello, Mike. I have seen your questions and I am providing you the answers we are able to disclose based on publicly available information. At June 30, 2012, we announced we had approximately $60M available in cash and cash equivalents. We also stated that we had sufficient proceeds to last us at least 12 months.
The last time we raised equity was late June 2011 and we raised approximately $50M.
The most anticipated near term catalyst for our stock will be data from our two ongoing pivotal Phase III clinical trials of enobosarm to prevent and treat muscle wasting in non-small cell lung cancer patients which we have said should be available in the 2nd quarter of 2013.
Thank you for your inquiry.
Henry P. Doggrell
VP, General Counsel
GTx, Inc.