Not at all surprising considering recent price action.
Is this what the shorts are hanging their hats on?
From 8/14 10Q:
The Company had cash, cash equivalents and short-term investments of $19.1 million as of June 30, 2001 as
compared to $14.9 million as of December 31, 2000.
The Company anticipates that its existing funds should be sufficient to fund its operating and capital requirements as currently planned through the second quarter of 2002. However, the Company's cash requirements may vary materially from those now planned due to many factors, including, but not limited to, the progress of the Company's research and development programs, the scope and results of preclinical and clinical testing, changes in existing and potential relationships with corporate collaborators, the time and cost involved in obtaining regulatory approvals, the costs involved in obtaining and enforcing patents, proprietary rights and any necessary licenses, the ability of the Company to establish
development and commercialization capacities or relationships, the costs of manufacturing and other factors.
The Company expects to incur substantial additional costs, including costs related to research and development activities, preclinical studies, clinical trials, obtaining regulatory approvals, manufacturing and the expansion of its facilities. The Company will need to raise substantial additional funds, through additional financings including public or private equity offerings and collaborative arrangements with corporate partners. There can be no assurance that funds will be available on terms acceptable to the Company, if at all. If adequate funds are not available, the Company may be required to delay, scale back or eliminate certain of its product development programs or to license to others the right to commercialize products or technologies that the Company would otherwise seek to develop and commercialize itself, any of which would have a material and adverse effect on the Company. |
