Cash Position: As of March 31, 2017, the Company had $227.6 million in cash, cash equivalents, and marketable securities. Of this balance, approximately $45 million to $55 million is committed to implementing a reduction in personnel, the winding-down of the Phase 3 Fovista® in combination with Lucentis® clinical trials, the termination of the Fovista® Expansion Studies, cancellation fees related to manufacturing commitments, and obtaining initial top-line data in the second half of 2017 for the Phase 3 Fovista® in combination with Eylea® (aflibercept) or Avastin® (bevacizumab) clinical trial. The Company expects that its 2017 year end cash balance will be between $140 million and $160 million, excluding any potential business development activities or any changes to the Companys current clinical development programs.
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