T/FIF, a New Plateau Message Board

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Biotech / Medical : T/FIF, a New Plateau

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To: scaram(o)uche who started this subject	6/16/2003 9:06:07 AM
From: nigel bates	of 2243

The perils of popcorn: finance.yahoo.com NEW YORK (Reuters) - Drug developer Deltagen Inc. (NasdaqNM:DGEN - News) on Monday said it may seek bankruptcy protection, and said its interim chief executive and chief financial officers have resigned. The Redwood City, California-based company said it is "very unlikely" that it will be able to close the second piece of a bridge loan and Series A preferred stock financing. As a result, it said it does not expect to have enough funds to pay down a $5 million bridge loan maturing on July 1. The resigning CEO and CFO, Joseph Limber and John Varian, were to have assumed their positions permanently upon closing the Series A financing, Deltagen said. Deltagen also said the role of chairman of its board of directors will be rotated among Deltagen's four directors. The board "is exploring the Company's strategic options, including alternate financing or bankruptcy," it said...

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