As Belgian biotech ThromboGenics sets its sights on approval for its eye disorder treatment ocriplasmin, the company isn't worrying about its cash flow. According to a statement, it is prepared for the next two years with €109.2 million ($150.7 million) in cash at the end of 2010, some €30 million more than 2009.
ThromboGenics raised €56 million in December through a private share placement, and the company's overall revenue increased from €4.2 million to €6.2 million from 2009 to 2010, thanks in part to royalty payments from Roche. The company says the applications for U.S. and European approval of ocriplasmin should be submitted in the second half of 2011.
- see the Reuters article