AVEO Oncology reports Q2 EPS (30c), one est. (9c)
AVEO ended Q2 with $40.1M in cash, cash equivalents and marketable securities as compared with $23.3M at December 31, 2016. Total collaboration revenue was approximately $0.4M in Q2 2017 compared with $0.2M for Q2 2016. AVEO says, "We believe that our $40.1M in cash resources would allow us to fund our planned operations into the fourth quarter of 2018. This estimate assumes no receipt of milestone payments from our partners or related payment of potential licensing milestones to third parties, no additional funding from new partnership agreements, no additional equity financings, no debt financings and no further sales of equity under our Sales Agreement with FBR. This estimate also assumes no acceleration in repayment of the term loan by Hercules in the event of non-compliance with the $10M financial covenant."