Reports Q1 revenue $20.4M, consensus $16.96M. Cash, cash equivalents and investments were $68.7M as of March 31. Combined with the net proceeds of $148.3M from the sale of the PRV received just after the end of the quarter on April 1, cash, cash equivalents and investments would be $217.0M. Based on the company’s current operating forecast and adding the non-dilutive capital from the PRV sale, it believes it has ample resources and financial flexibility to execute on its strategic priorities independent from the capital markets.
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