Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question comes from Robert Labick with CJS Securities.
Robert Labick - CJS Securities
Couple of questions, first I wanted to ask you. You talked a little bit about on the sell registration on Clarient. Could you maybe give us a little more details, when would that become effective and then and more importantly if you could maybe help us outline your priorities with cash if you were to make some sales, as it relates to debt pay down, share repurchase, incremental investments in your current holdings and then new investments over the portfolio?
Peter Boni
Why don’t I ask Steve to pick that up for you Bob.
Robert Labick - CJS Securities
Great.
Stephen Zarrilli
So Bob we are still in process with the SEC so there is no further information at this time that we can share. As we stated, we are going to use that registration statement too at times potentially sell blocks of shares of Clarient to institutional shareholders and there is no defined plan as of yet for those types of transactions.
We will continue to explore ways in which to put capital to the work in the future, if I understood the second part of your question properly in the manner that we currently use today.
We are going to also remain mindful of the obligations we have under this convertible debt securities and ensure that that is our priority in the use of cash going forward.
Robert Labick - CJS Securities
Okay. And then just going to your companies, you have I think three companies in Phase III trials. I was wondering if you could offer a little more color on, kind of timing of when those trials might end.
Then specifically as it relates to NuPathe, you mentioned in the release that there you expect an NDA in 2010. For the generalists among us, could you help us understand what that means as it relates to timing of revenues and maybe the opportunity for NuPathe in 2010?
Peter Boni
We do expect that NuPathe would proceed in its Phase III trials. They’ll be in a position to make their progress known when they’re ready to do so, but they’re progressing according to our plan, and through Phase III then they go into a prospective revenue mode later in 2010. I would say in fact, later in 2010 it’s likely to be 2011 revenue.
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