Investor Relations (IR) Questions: Transition Therapeutics TTHI
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Answers received: January 2013
1) When is the last time TTHI raised cash through an offering (diluted)?
Answer: Transition last raised capital in Nov 2011. At that time, US$5 million was raised through the sale of approximately 3.7M shares.
2) How much cash (not cash equivalents) does TTHI have?
Answer: As of our last quarter (Sept 30 2012), Transition had cash of approximately $16M, with an additional payment of $11M that was received on Oct 1 2012, the day after the quarter end. So approximately $27M as of Oct 1 2012.
3) What and approximately when is the next known catalyst?
Answer: The next milestone will be the reporting of proof-of-concept data with our type 2 diabetes drug candidate TT-401. It is expected in calendar Q2 2013.
4) What is TTHI's quarterly cash burn?
Answer: Transition’s annual cash burn is approximately $8-9M.
5) Does TTHI have an existing line of credit and if so how much can they draw against it?
Answer: No
1) When is the last time TTHI raised cash through an offering (diluted)?
Answer: Transition last raised capital in Nov 2011. At that time, US$5 million was raised through the sale of approximately 3.7M shares.
2) How much cash (not cash equivalents) does TTHI have?
Answer: As of our last quarter (Sept 30 2012), Transition had cash of approximately $16M, with an additional payment of $11M that was received on Oct 1 2012, the day after the quarter end. So approximately $27M as of Oct 1 2012.
3) What and approximately when is the next known catalyst?
Answer: The next milestone will be the reporting of proof-of-concept data with our type 2 diabetes drug candidate TT-401. It is expected in calendar Q2 2013.
4) What is TTHI's quarterly cash burn?
Answer: Transition’s annual cash burn is approximately $8-9M.
5) Does TTHI have an existing line of credit and if so how much can they draw against it?
Answer: No
Answers received: September 2012
1) When is the last time TTHI raised cash through an offering (diluted)?
The last equity offering occurred in November 2011. A total of $5million was raised through the issuance of approximately 3.7 million Transition common shares.
2) How much cash (not cash equivalents) does TTHI have?
The last quarter that we reported was our year-end (June 30, 2012). The cash on hand at that time was approximately $19 million. However, subsequent to the year-end, Transition has earned an additional $11 million payment from our licensing partner Elan. That payment is expected to be received by the end of September 2012.
3) What and approximately when is the next known catalyst?
There are two important catalysts in the next term for Transition. One is the reporting of human proof-of-concept data for our diabetes therapy TT-401. Currently a Phase 1b clinical study is underway in obese subjects with diabetes and we expect to report results from that trial in the first half of 2012. Secondly, our licensing partner Elan has stated that they plan to announce a clinical study in a second disease indication (in addition to bipolar disorder), and this announcement is planned for calendar Q4 2012.
4) What is TTHI's quarterly cash burn?
On average, the cash burn of the Company is approximately $8million per year.
5) Does TTHI have an existing line of credit and if so how much can they draw against it?
No.
1) When is the last time TTHI raised cash through an offering (diluted)?
The last equity offering occurred in November 2011. A total of $5million was raised through the issuance of approximately 3.7 million Transition common shares.
2) How much cash (not cash equivalents) does TTHI have?
The last quarter that we reported was our year-end (June 30, 2012). The cash on hand at that time was approximately $19 million. However, subsequent to the year-end, Transition has earned an additional $11 million payment from our licensing partner Elan. That payment is expected to be received by the end of September 2012.
3) What and approximately when is the next known catalyst?
There are two important catalysts in the next term for Transition. One is the reporting of human proof-of-concept data for our diabetes therapy TT-401. Currently a Phase 1b clinical study is underway in obese subjects with diabetes and we expect to report results from that trial in the first half of 2012. Secondly, our licensing partner Elan has stated that they plan to announce a clinical study in a second disease indication (in addition to bipolar disorder), and this announcement is planned for calendar Q4 2012.
4) What is TTHI's quarterly cash burn?
On average, the cash burn of the Company is approximately $8million per year.
5) Does TTHI have an existing line of credit and if so how much can they draw against it?
No.