If we cannot obtain additional funding, our product development and commercialization efforts may be reduced
We will require additional funding to sustain our research and development efforts, provide for future clinical
trials, and continue our operations until we are able to generate sufficient revenue from the sale and/or licensing of
our products. We cannot be certain whether we will be able to obtain required additional funding on terms
satisfactory to us, if at all. In addition, we have expended, and will continue to expend, substantial funds on the
development of our product candidates and for clinical trials. We currently have commitments to expend
additional funds for the development of the Orasome oral delivery system, the MEDIPAD(R) infusion pump for
iron chelation therapy, license contracts, severance arrangements, employment agreements, and consulting
agreements. If we are unable to raise additional funds when necessary, we may have to reduce or discontinue
development, commercialization or clinical testing of some or all of our product candidates or enter into financing
arrangements on terms that we would not otherwise accept.
We have had significant losses and anticipate future losses.
We are a development stage company, have experienced significant losses since inception and have a significant
accumulated deficit. We expect to incur significant additional operating losses in the future and expect cumulative
losses to substantially increase due to expanded research and development efforts, preclinical studies and clinical
trials. All of our products are currently in development, preclinical studies or clinical trials and we have not
generated significant revenues from product sales or licensing. There can be no guarantee that we will ever
generate product revenues sufficient to become profitable or to sustain profitability.
We are dependent on our joint ventures with Elan Corporation plc, our corporate partners and any future joi