Pharmaceutical firm Boston Life Sciences (BLSI) of Boston has issued a warning in its annual report regarding the company's ability to continue as a going concern.
In the company's 10-K report filed with the U.S. Securities and Exchange Commission, the company states that "the cash, cash equivalents, and marketable securities available at December 31, 2005, will not provide sufficient working capital to meet our anticipated expenditures for the next 12 months."
The company believes that it has the assets to meet projected expenses through June 2006, after which the company will need to raise additional capital through either a merger, acquisition, debt financing, or equity offering.
The company said its ability to continue its R&D programs, such as for its Altropane molecular imaging agent for diagnosing neurological disorders, could be dependent on the availability of financial resources.
By AuntMinnie.com staff writers
April 10, 2006
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