Investor Relations (IR) Questions: Telik Inc TELK
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Answers received: June 2013
1) When is the last time TELK raised cash through an offering (diluted)?
In February 2005, we sold ~8.0 million shares of common stock at $18.75 per share.
We currently have an active registration statement on Form S-3 and the At Market Issuance (ATM) vehicle attached to it allows us to sell TELK at market price from time to time through our sales agent. Since its inception in August 2011 and through March 31, 2013, we sold ~2.8 million shares of our common stock and received ~$5.8 million in net proceeds.
2) How much cash (not cash equivalents) does TELK have?
As of March 31, 2013, Telik had ~$5.6 million in cash and marketable securities.
3) What and approximately when is the next known catalyst?
The initiation of a Phase 3 placebo-controlled randomized registration trial of TELINTRA for the treatment of Low to Intermediate-1 risk MDS. We are currently focusing our efforts on raising the necessary capital in order to initiate the Phase 3 registration trial and we cannot provide any assurance that we will be successful in obtaining this funding.
4) What is TELK's quarterly cash burn?
Our outlook for FY2013 operating cash use without any Phase 3 costs is expected to be in the range of $7.0 million to $7.5 million.
5) Does TELK have an existing line of credit and if so how much can they draw against it?
Telik does not have an existing line of credit.
1) When is the last time TELK raised cash through an offering (diluted)?
In February 2005, we sold ~8.0 million shares of common stock at $18.75 per share.
We currently have an active registration statement on Form S-3 and the At Market Issuance (ATM) vehicle attached to it allows us to sell TELK at market price from time to time through our sales agent. Since its inception in August 2011 and through March 31, 2013, we sold ~2.8 million shares of our common stock and received ~$5.8 million in net proceeds.
2) How much cash (not cash equivalents) does TELK have?
As of March 31, 2013, Telik had ~$5.6 million in cash and marketable securities.
3) What and approximately when is the next known catalyst?
The initiation of a Phase 3 placebo-controlled randomized registration trial of TELINTRA for the treatment of Low to Intermediate-1 risk MDS. We are currently focusing our efforts on raising the necessary capital in order to initiate the Phase 3 registration trial and we cannot provide any assurance that we will be successful in obtaining this funding.
4) What is TELK's quarterly cash burn?
Our outlook for FY2013 operating cash use without any Phase 3 costs is expected to be in the range of $7.0 million to $7.5 million.
5) Does TELK have an existing line of credit and if so how much can they draw against it?
Telik does not have an existing line of credit.