ALTH » Topics » Financial Highlights and 2009 Guidance

This excerpt taken from the ALTH 8-K filed Mar 3, 2009.

Financial Highlights and 2009 Guidance

 

The Company ended 2008 with cash, cash equivalents and investments in marketable securities totaling $84.0 million.  Net cash used in operating activities during 2008 was approximately $42.9 million, below the Company’s prior guidance of $45 to $49 million dollars.

 

For fiscal year 2009, the Company anticipates that net cash use in operating activities will approximate $50 to $54 million dollars.  Though not inclusive of all costs associated with the potential future launch of pralatrexate, this guidance includes the phase-in of certain key investments related to commercial planning and pre-commercial scale-up of manufacturing for pralatrexate, as well as $6.8 million of potential milestone payments under the Company’s license agreement for pralatrexate payable upon FDA acceptance and approval of the Company’s NDA.

 

The Company retains exclusive worldwide commercial rights to pralatrexate for all indications.  If approved for marketing, the Company intends to commercialize pralatrexate by building an oncology-focused U.S. sales and marketing organization.

 

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