Investor Relations (IR) Questions: Navidea Biopharmaceuticals NAVB
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Answers received: January 2013
The following are notes that were taken from my telephone conversation today with NAVB's Senior VP & CFO Brent Larson.
1) When is the last time NAVB raised cash through an offering (diluted)?
Today, January 30, 2013.
1,542,389 shares at $3.10 per share
2) How much cash (not cash equivalents) does NAVB have?
$11,211,170 cash and equivalents reported September 29, 2012.
3) What and approximately when is the next known catalyst?
a) Lymphoseek: The product identifies if the cancer has spread or if it is localized. A NDA has already been filed with the FDA and has a PDUFA date of April 30, 2013. The product is already partnered in the USA and the company is in discussions to partner in Europe. The company expects to report an update on the European partnership discussions by mid-year. The focus of this product has been on breast cancer and melanoma. However, the company is studying the product's value in other types of cancer and believes that the market potential for Lymphoseek is much broader than breast cancer and melanoma.
b) AZD4694: This product is being studied to diagnose cognitive impairment such as Alzheimer's Disease. The company expects to open/start a phase 2b study to show some earlier stage endpoints late in the first quarter or early second quarter 2013. The company also expects the study to move into phase 3 this year.
c)RigScan: This product is being studied to identify cancerous tissue not recognized by traditional methods resulting in more effective surgeries and better survival rates. The product has already gone through a phase 3 study and was not approved. However the company has made adjustments and is moving the study forward with the financial assistance of a grant from the National Institutes of Health. Funding from the grant is up to $1.5 million.
d) NAV5001: This product is being developed to aid in the diagnosis of Parkinson’s disease and other movement disorders. It also has potential use as a diagnostic aid in dementia. The company expects to move into Phase 3 during the second half of 2013.
4) What is NAVB's quarterly cash burn?
The company's cash burn for the last 2 quarters has averaged about $5.5 million a quarter.
5) Does NAVB have an existing line of credit and if so how much can they draw against it?
The company has a $50 million dollar credit line.
The following are notes that were taken from my telephone conversation today with NAVB's Senior VP & CFO Brent Larson.
1) When is the last time NAVB raised cash through an offering (diluted)?
Today, January 30, 2013.
1,542,389 shares at $3.10 per share
2) How much cash (not cash equivalents) does NAVB have?
$11,211,170 cash and equivalents reported September 29, 2012.
3) What and approximately when is the next known catalyst?
a) Lymphoseek: The product identifies if the cancer has spread or if it is localized. A NDA has already been filed with the FDA and has a PDUFA date of April 30, 2013. The product is already partnered in the USA and the company is in discussions to partner in Europe. The company expects to report an update on the European partnership discussions by mid-year. The focus of this product has been on breast cancer and melanoma. However, the company is studying the product's value in other types of cancer and believes that the market potential for Lymphoseek is much broader than breast cancer and melanoma.
b) AZD4694: This product is being studied to diagnose cognitive impairment such as Alzheimer's Disease. The company expects to open/start a phase 2b study to show some earlier stage endpoints late in the first quarter or early second quarter 2013. The company also expects the study to move into phase 3 this year.
c)RigScan: This product is being studied to identify cancerous tissue not recognized by traditional methods resulting in more effective surgeries and better survival rates. The product has already gone through a phase 3 study and was not approved. However the company has made adjustments and is moving the study forward with the financial assistance of a grant from the National Institutes of Health. Funding from the grant is up to $1.5 million.
d) NAV5001: This product is being developed to aid in the diagnosis of Parkinson’s disease and other movement disorders. It also has potential use as a diagnostic aid in dementia. The company expects to move into Phase 3 during the second half of 2013.
4) What is NAVB's quarterly cash burn?
The company's cash burn for the last 2 quarters has averaged about $5.5 million a quarter.
5) Does NAVB have an existing line of credit and if so how much can they draw against it?
The company has a $50 million dollar credit line.