Re: Farmas USA
NAVB
EPS of ($0.05), $0.02 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $2.1 million versus the consensus estimate of $3.3 million.
The Company reiterates its 2015 Lymphoseek product revenue estimate of $10 million to $12 million. Additionally, margins on Lymphoseek product sales are expected to approach and possibly exceed 80% in the coming quarters. The Company also expects, following completion of the partnering activities for NAV4694, that cash operating expenses on a quarterly basis will continue to decrease to the point necessary for the Company to achieve its goals of cash flow breakeven from operations. This guidance excludes therapeutic-related research and development costs for the Manocept platform which are expected to be funded separately by Macrophage Therapeutics, Inc.
Navidea secures an expensive $60M loan
Navidea Biopharmaceuticals (NYSEMKT:NAVB) secures a $60M loan from CRG which it will use to retire its debt from Oxford Finance, support the commercialization of Lymphoseek and general corporate purposes.
Under the terms of the loan, Navidea will receive an initial $50M for a term of six years, the first four interest-only, at a 14% interest rate. An additional $10M will be available under certain conditions. After paying off the Oxford debt, the company will have $18M in new capital.
In conjunction with the CRG financing, Navidea amends its existing line of credit with Platinum-Montaur Life Sciences that will allow it to remain in place in a subordinated position to the CRG loan. Platinum may convert the company's $7.7M debt into common stock if the average price exceeds $2.53 per share for 10 consecutive trading days. Today's close was $1.35.
«Después de nada, o después de todo/ supe que todo no era más que nada.»