Investor Relations (IR) Questions: Tekmira Pharma TKMR
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Answers received: January 2013
1) When is the last time TKMR raised cash through an offering (diluted)?
In February 2012 Tekmira (TKMR) raised $4 million through a unit offering at $2.20. The unit included a half warrant at $2.60. However it is worth highlighting that in November 2012 Tekmira received a $65 million settlement in a litigation it had ongoing with Alnylam (ALNY). After legal expenses TKMR netted $50 million from the settlement.
2) How much cash (not cash equivalents) does TKMR have?
As of December 31, 2012 TKMR had $46.6 million in cash.
3) What and approximately when is the next known catalyst?
TKMR will be delivering Phase I results from its oncology product PLK1 at one (maybe two) high profile oncology conferences in next few months. We are also expecting top-line data from TKMR's partner, ALNY, on a Phase II program with their lead drug ALN-TTR02. TKMR is entitled to a royalty on net sales from TTR02 and a $5 million milestone upon it entering a Phase III study.
4) What is TKMR's quarterly cash burn?
TKMR currently burns around $2 million a quarter.
5) Does TKMR have an existing line of credit and if so how much can they draw against it?
No TKMR does not have a line of credit that it is currently drawn down on.
1) When is the last time TKMR raised cash through an offering (diluted)?
In February 2012 Tekmira (TKMR) raised $4 million through a unit offering at $2.20. The unit included a half warrant at $2.60. However it is worth highlighting that in November 2012 Tekmira received a $65 million settlement in a litigation it had ongoing with Alnylam (ALNY). After legal expenses TKMR netted $50 million from the settlement.
2) How much cash (not cash equivalents) does TKMR have?
As of December 31, 2012 TKMR had $46.6 million in cash.
3) What and approximately when is the next known catalyst?
TKMR will be delivering Phase I results from its oncology product PLK1 at one (maybe two) high profile oncology conferences in next few months. We are also expecting top-line data from TKMR's partner, ALNY, on a Phase II program with their lead drug ALN-TTR02. TKMR is entitled to a royalty on net sales from TTR02 and a $5 million milestone upon it entering a Phase III study.
4) What is TKMR's quarterly cash burn?
TKMR currently burns around $2 million a quarter.
5) Does TKMR have an existing line of credit and if so how much can they draw against it?
No TKMR does not have a line of credit that it is currently drawn down on.