Does that change your outlook for the viability of this? They are burning through money but at the same time in April they had $226 million in assets versus $178 million liabilities so at least as of April there was positive book value. Assets were mostly cash, customer receivables, and inventory, and zero value ascribed to any of the patents (intangible assets valued at $37 thousand). Interesting situation and would love any updated thoughts now that it's been a month.
We closed via the initial DIP traunch. I have no experience here. Very interesting link to consider - reading it now. Seems consistent with not as planned or cash burn higher than anticipated to date. As I said in the article, my main point was to not dismiss the risk and complexity of this path. Thank you for reading along.
Thanks - today's environment certainly is different than the early 2000's. As someone who relies on technology, it will be interesting to see how we navigate.
Great article Mark, thank you! Their investment banker is saying the parties looking are primarily strategic and there are 6 participants (incl. Europe and Asia). Key disclosure on page 4 at https://cases.stretto.com/public/X258/12332/PLEADINGS/1233208182380000000118.pdf
Does that change your outlook for the viability of this? They are burning through money but at the same time in April they had $226 million in assets versus $178 million liabilities so at least as of April there was positive book value. Assets were mostly cash, customer receivables, and inventory, and zero value ascribed to any of the patents (intangible assets valued at $37 thousand). Interesting situation and would love any updated thoughts now that it's been a month.
We closed via the initial DIP traunch. I have no experience here. Very interesting link to consider - reading it now. Seems consistent with not as planned or cash burn higher than anticipated to date. As I said in the article, my main point was to not dismiss the risk and complexity of this path. Thank you for reading along.
The "free money" days are gone! In this environment, vendors will need to emphasize higher clinical benefit at a lower cost. Great article.
Thanks - today's environment certainly is different than the early 2000's. As someone who relies on technology, it will be interesting to see how we navigate.
So the opposite of the pharma model of slightly higher clinical benefit at a significantly higher cost?