Investor Relations (IR) Questions: Nile Therapeutics NLTX
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Answers received: March 2013
1) When is the last time NLTX raised cash through an offering (diluted)? We raised $1.3M in April 2012.
2) How much cash (not cash equivalents) does NLTX have? We have not reported cash since our Q2 10-Q, when it was $777K. Suffice to say, we have not spent it all, and are not dead. Quarterly filings was an expense we deemed not-productive.
3) What and approximately when is the next known catalyst? Since last fall, we have been trying to sell the company. If we can accomplish that, then that is the next catalyst. If we cannot, then we will close operations.
4) What is NLTX's quarterly cash burn? We have not reported our burn rate. Suffice to say, we are pretty lean at the moment.
5) Does NLTX have an existing line of credit and if so how much can they draw against it? We do not have an existing line of credit.
We have done everything possible to reduce the burn to get through discussions and avoid closure. We are committed to the program, and to heart failure patients. It is our hope that the program can move forward.
1) When is the last time NLTX raised cash through an offering (diluted)? We raised $1.3M in April 2012.
2) How much cash (not cash equivalents) does NLTX have? We have not reported cash since our Q2 10-Q, when it was $777K. Suffice to say, we have not spent it all, and are not dead. Quarterly filings was an expense we deemed not-productive.
3) What and approximately when is the next known catalyst? Since last fall, we have been trying to sell the company. If we can accomplish that, then that is the next catalyst. If we cannot, then we will close operations.
4) What is NLTX's quarterly cash burn? We have not reported our burn rate. Suffice to say, we are pretty lean at the moment.
5) Does NLTX have an existing line of credit and if so how much can they draw against it? We do not have an existing line of credit.
We have done everything possible to reduce the burn to get through discussions and avoid closure. We are committed to the program, and to heart failure patients. It is our hope that the program can move forward.