Question-and-Answer Session
Mona Haynes
Yes?
Unidentified Audience Member
(Question Inaudible)
Mona Haynes
Excuse me. I didn't understand the first part of the question.
Unidentified Audience Member
Composition of the spheres...
Mona Haynes
What is the composition?
Unidentified Audience Member
What causes an image in the ultrasound?
Mona Haynes
What causes the image?
Unidentified Audience Member
Yes.
Mona Haynes
The question was what causes the image in the ultrasound? So, the ultrasound is being used in cardiac assessment is the same as ultrasound that’s used by OB/GYNs, etcetera. And so the ultrasound beam is being put on the heart, and that shows the heart moving. The image that we are getting with Imagify is being caused by those microspheres as they are traveling through the bloodstream reflecting the beam from the ultrasound.
Unidentified Audience Member
So, there is nothing in the porous material of the?
Mona Haynes
There is a [nitrogen] gas. Yes?
Unidentified Audience Member
On your Phase I of this hydrophilic, did you test both anti-inflammatory and Taxol or only Taxol?
Mona Haynes
So far in Phase I, we only did paclitaxel.
Unidentified Audience Member
Okay. Now what is the next step?
Mona Haynes
Next step? Well, we are working for financing to advance those programs forward.
Unidentified Audience Member
So, when was the Phase I completed?
Mona Haynes
Good question.
Unidentified Audience Member
I mean, years ago or months ago or what?
Mona Haynes
I have been with the company two years and it was completed before two years ago. Yes?
Unidentified Audience Member
You have about $50 million. If you consummate the last year's range $50 million, how much money do you need to complete Phase III?
Mona Haynes
Okay. Well, we have completed Phase III. So, all of our clinical trial work is done. We now need to submit the NDA.
Unidentified Audience Member
How much money do you need for what period?
Mona Haynes
Okay. I am going to put that question to Fred.
Frederick Ahlholm
We expect to file our NDA...
Unidentified Audience Member
(Question Inaudible)
Frederick Ahlholm
Hi, this is Fred Ahlholm. The question was what do we need, from a gas standpoint to make it through our NDA filing. And we expect to file our NDA later this year. So, our present burn rate, it's a consistent with our prior guidance, somewhere in the range of $10 million to $15 million per quarter for operating expenses. We also have roughly $1.7 million in debt service and $600,000 per quarter for dividend. So, we have enough cash. The answer to your question, the $52 million is enough to get us through that point in time and beyond. And then we would need certainly, one other things we are evaluating now is the amount of additional resources we will need going forward from there.
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