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Problem - Cash to monthly cash expenses ratio - Allos Therapeutics, Inc., is a biopharmaceutical company that develops drugs for the treatment of cancer. Allos Therapeutics reported the following financial data (in thousands) for the years ending December 31, 2008, 2007, and 2006.
For Years Ending December 31
2008
2007
2006
Cash and cash equivalents
$ 30,696
$ 16,103
$ 10,437
Net cash flows from operations
(42,850)
(30,823)
(25,147)
Required -
a. Determine the monthly cash expenses for 2008, 2007, and 2006. Round to one decimal place.
b. Determine the ratio of cash to monthly cash expenses as of December 31, 2008, 2007, and 2006. Round to one decimal place.
c. Based on (a) and (b), comment on Allos Therapeutics' ratio of cash to monthly operating expenses for 2008, 2007, and 2006.
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