Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Ron [Shez] a private investor.
Ron [Shez] – Private Investor
I missed her, the line cut out when your CFO was talking. You talked about the cash burn for ’09 was $24 to what number?
Keith Katkin
Our projected cash burn for fiscal year 2009 is $24 to $27 million.
Ron [Shez] – Private Investor
Do you expect that that’s a number that you have a capability to beat?
Keith Katkin
I think if you look at our track record and what we’ve done before, we have put out enrollment projections as well as financial projections that we are very confident with and then as the year moves forward we refined those projections, so it is our hope that we would be able to do a similar refinement as the year moves on and beat those numbers, but this early on in the year and looking at the significant clinical development expenses that we have for the upcoming year, that $24 to $27 million is our best estimate as of right now. But, as we did last year, each quarter we will update and refine and hopefully you will see those numbers going down over the year.
Ron [Shez] – Private Investor
That would be good. Dr. Kaye talked about some early indications with regard to PBA or the STAR trial. Do you have any other color that you would like to provide and how significant is what you are seeing or just any other qualitative observations.
Keith Katkin
I will turn that one over to Randall. Randall?
Randall Kaye M.D.
I think overall the investigators are very, very positive. We have launched a study in the US as well as Latin America. They are excited. They have a number of patients that are enrolled in the open label study, so certainly at that point they know that all patients were on study drug, and they continue to enroll additional patients in the study as well. All of those are very, very positive indicators.
We are still blinded to the results, so it is hard to get into more detail on that.
Ron [Shez] – Private Investor
But you are pleased so far.
Randall Kaye M.D.
Yes, we are pleased.
Ron [Shez] – Private Investor
Okay. We just talked about cash burn, so you’re going to be sitting with some place between $14 and some odd million at the end of this coming year, which doesn’t leave you a lot to get to what you hope for with regard to approval; so do you have any interim plans you are pursuing, any deals? Can you talk about that?
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