Question-and-Answer Session
Operator
Thank you. [Operator instructions]. Your first question comes from the line of Debjit Chattopadhyay with Boenning & Scattergood. Please proceed.
Debjit Chattopadhyay
Hi, good morning gentlemen and thank you for taking the question.
Douglas Swirsky
Good morning.
Debjit Chattopadhyay
Given your stated position that you really don’t want to be below one year’s cash, so by and sometime in the fourth quarter you would be roughly with one year’s cash position. So, why delay in licensing either the TNFerade program or the FMD program?
Douglas Swirsky
Thanks for the question. I think in this case, we never really want to below year’s cash. In this cash we have a unique opportunity to see a real robust amount of data from the program later this year and we have to make some decisions about the company at that time. So, in general would not want to get below year’s cash, if that situation happens I’m comforted by the fact that by the time we receive the data, which we are comfortable that will take place in the fourth quarter that we’ll have a significant amount of time to move the business forward in whatever directions dictated by the data. So, I’m not overly concerned by that, this is inline with our expectations about how we would form the company going into that milestone.
Debjit Chattopadhyay
Could you go over some of the contingency plans in case that data doesn’t live up to expectations in terms of potential licensing or in case you need to increase the trial size or whatever?
Paul Fischer
Debjit, I’m not sure, this is Paul, I am not sure I fully understood that could you rephrase that?
Debjit Chattopadhyay
Well, I was just wondering if you have any or what the contingency plans are, supposing the data does not live up to expectations, supposing you have to increase your trial size, I mean, how does that plan or play out in terms of licensing the product?
Paul Fischer
I understand. Well, first of all, we will look at the data and understand a lot about it, when Mark has the chance to get the full analysis from the outside vendor. So, there are many different ways that data could come out, certainly if for some unexpected reason, it was clearly negative and there was evidence of a futility here and we would stop the trial as you know GenVec has substantial efforts in other areas. Well funded programs in the areas of vaccine development primarily but also we have other important programs. So, I think we are in a fortunate position compared to many companies in which the technology is broadly ample. So, we are not just focused on TNFerade as it relates to the future but the pipeline, which is driven by the vaccine programs, Doug, actually highlighted couple of important points. One, is the RSV and the HSV-2 program, which we will notice as the company is beginning to build through outside funding, proprietary programs which could also drive the value of the company.
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