Brian Jeep's questions to TENAX THERAPEUTICS (TENX) leadership • Q3 2016
Question
Brian Jeep of WallachBeth asked about the projected Q4 cash burn, the company's business development strategy following the negative LeoPARDS trial results, plans for a potential capital raise in 2017, and the required size of the commercial sales force.
Answer
CFO Michael Jebsen explained that while recognized R&D expense will decrease, cash burn will remain as projected due to paying down previously accrued patient costs, resulting in a year-end cash balance of around $19 million. He also confirmed a likely capital raise in mid-to-late 2017 to finance commercial infrastructure, contingent on positive data. CEO John Kelley stated that business development activities continue unchanged and estimated a sales force of 60 to 70 representatives would be needed for launch.