Investor Relations (IR) Questions: Mast Therapeutics MSTX
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Answers received: May 2013
1) When is the last time MSTX raised cash through an offering (diluted)?
On November 16, 2011, the Company completed the closing of an underwritten public offering of 21,250,000 shares of common stock and warrants exercisable for up to 10,625,000 additional shares for gross proceeds of approximately $17 million. Please note that I refer you to the press release we issued at that time for further details (http://www.masttherapeutics.com/investors/news/?releaseid=1631279).
2) How much cash (not cash equivalents) does MSTX have?
As of December 31, 2012, the Company had cash, cash equivalents and short-term investments totaling $36.5 million. Stockholders' equity amounted to $41.8 million as of December 31, 2012. Please note that I refer you to our press release issued March 19, 2013 for further details (http://www.masttherapeutics.com/investors/news/?releaseid=1797761).
3) What and approximately when is the next known catalyst?
As outlined in our Fourth Quarter and Full Year 2012 Financial Results release issued on March 19, 2013 (http://www.masttherapeutics.com/investors/news/?releaseid=1797761), key objectives for the remainder of 2013 include:
4) What is MSTX's quarterly cash burn?
Please note that the Company does not provide anticipated quarterly burn rates moving forward.
5) Does MSTX have an existing line of credit and if so how much can they draw against it?
No.
1) When is the last time MSTX raised cash through an offering (diluted)?
On November 16, 2011, the Company completed the closing of an underwritten public offering of 21,250,000 shares of common stock and warrants exercisable for up to 10,625,000 additional shares for gross proceeds of approximately $17 million. Please note that I refer you to the press release we issued at that time for further details (http://www.masttherapeutics.com/investors/news/?releaseid=1631279).
2) How much cash (not cash equivalents) does MSTX have?
As of December 31, 2012, the Company had cash, cash equivalents and short-term investments totaling $36.5 million. Stockholders' equity amounted to $41.8 million as of December 31, 2012. Please note that I refer you to our press release issued March 19, 2013 for further details (http://www.masttherapeutics.com/investors/news/?releaseid=1797761).
3) What and approximately when is the next known catalyst?
As outlined in our Fourth Quarter and Full Year 2012 Financial Results release issued on March 19, 2013 (http://www.masttherapeutics.com/investors/news/?releaseid=1797761), key objectives for the remainder of 2013 include:
- Announcing results from the thorough QT/QTc study of MST-188, expected mid-year;
- Soliciting FDA input on our planned phase 2 study in acute limb ischemia, expected in the third quarter;
- Announcing results of nonclinical studies evaluating the physiologic significance of TEG results observed in prior nonclinical studies funded by the Defense Advanced Research Projects Agency (DARPA) Surviving Blood Loss (SBL) program, expected in the second half of the year;
- Initiating a microvascular blood flow sub-study in EPIC, expected in the fourth quarter;
- Initiating a phase 2 clinical proof-of-concept study of MST-188 in acute limb ischemia, expected in late 2013/early 2014;
- Obtaining orphan drug designation for MST-188 for acute limb ischemia;
- Submitting application(s) to request funding from the U.S. government to conduct a phase 2 clinical proof-of-concept study with MST-188 for resuscitation of shock following major trauma; and
- Filling patent applications claiming key aspects of our proprietary manufacturing process.
4) What is MSTX's quarterly cash burn?
Please note that the Company does not provide anticipated quarterly burn rates moving forward.
5) Does MSTX have an existing line of credit and if so how much can they draw against it?
No.