Question-and-Answer Session
Operator
Thank you. [Operator instructions]. And we will go to Joel Sendek with Lazard Capital Markets.
Joel Sendek
Hi, thanks. So I have a few questions. First, one on just the AVE1642 study. Is that a single agent study or is that controlled study?
Mitch Sayare
Okay. John, that’s a single agent study.
John Lambert
It is a single agent.
Joel Sendek
Okay. And any more details on years?
Mitch Sayare
No, not at this time.
Joel Sendek
Okay. And then the next question as well, so by my calculations you have I guess maybe a year-and-a-half to two years or one to two years of cash and given the circumstances that the whole market is in right now, is there anyway to make that potentially last longer than the downturn that we are in continue specifically, do you have to pay for anything from the partner compounds and the internal compounds, you are prepared to dial that back in order to make the cash last longer?
Daniel Junius
I guess I would respond to old standard. I agree with the window, it’s certainly 18 months, it might be 24 assuming steady state and I think that I would view that to be conservative because I think there are a number of things that will potentially have an impact on extending that run rate. Some of them very positive, some of them being actions on our part to assure that we extend that run rate. The positive events could have something to do with – if the results warranted some out-licensed activity around our propriety compounds. I referenced the fact that we are seeing increased interest from partners. We have not factored that in in any meaningful way into the one what that we are looking at or what goes into the thinking to say that we have got 18 to 24 months of liquidity available to us. On the other side, I think that we will and are doing things now to try to selectively reduce our spending to give ourselves financial flexibility. But if we feel that we are not seeing the developments that will provide us sort of top line cash coming in, we will take further steps to reduce the cash outflow, but we are very mindful of the external environment and we want to do everything we can to avoid having to raise money a) at all but certainly not at any time and any sooner than we have to.
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