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A biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting.
Continuing increases in quarterly Ofirmev revenues indicate that Cadence may eventually become cash flow positive, but it doesn't look like that will be happening any time soon. Ongoing burn of more than 20M/quarter threatens to exhaust the 91M in cash within a year unless another large dilutive financing is engineered. Meanwhile, the overhang of litigation against Ofirmev patents by a generic drugmaker is likely to squelch burgeoning optimism. The company has already guided to about 14M in Ofirmev revenue for the current quarter, so I doubt any upside surprises with the next earnings. Instead, I expect the share price to decline anew once the cold splash of red ink hits Cadence's balance sheet yet again.
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