Monday, August 11, 2008

Another week of earnings

August is usually a quiet month, but I've been busy watching earnings releases from my portfolio companies. They continue this week, as Inspire Pharmaceuticals (calls 1.1% of portfolio) turned in better than expected results this morning. The conference call was fairly positive, and since my call position is small (and long-dated), I'm just holding for now. After the close, we get results from NutraCea (3.8% of portfolio), which has been a disappointment for over a year now. Hopefully this quarter marks the beginning of a turnaround, but I'm not expecting much. I'm also losing a bit of hope regarding TorreyPines Therapeutics (2.0% of portfolio), which has some promising compounds, but which announced late Friday that the CEO had resigned. At current burn rates, they have less than a year of cash left, unless they raise more capital.