Dec. 2 at 7:28 PM
$ATRA The 10-Q tells the real story beyond the cash balance.
Bears are screaming about ~
$13.7M cash, but they miss the strategic pivot:
Zero Burn Mode: Operations reduced to ~15 key employees. Expenses are gutted.
Pierre Fabre has taken over ALL costs: Manufacturing, Regulatory, and Clinical.
The Lifeline:
$40M Milestone payment hits immediately upon Jan 10 BLA approval.
This isn't a cash-burning biotech anymore; it's a royalty vehicle waiting for the green light. The "Going Concern" warning is standard protocol before a binary event. Risk/Reward is heavily skewed to the upside.
