Cash reserves were $58.2M at 2020 end and enough till 2021 end. The operating cash burn was $18.4M in 2020. There's no long-term debt. The current market cap is only $505M (enterprise value of $392M), which is low considering my estimate of $2B/year peak sales potential for FB-401 in AD (at 50% market share). On a relative valuation basis, Pfizer acquired Anacor...
