Outlook According to management estimates,
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Posted On: 04/01/2019 3:03:18 PM
Outlook
According to management estimates, our liquidity resources as of December 31, 2018 will not be sufficient to maintain our planned level of operations at least through March 31, 2020. We will need to seek additional capital for the purpose of implementing our business strategy and managing our business and developing drugs. Conducting clinical trials and commercializing products is expensive and we will need to raise substantial additional funds to achieve our strategic objectives. We have not yet generated any revenues from its current operations, and therefore are dependent upon external sources for financing our operations. We will require significant additional financing in the near future. Additional financing may not be available on acceptable terms, if at all. Our future capital requirements as well as the ability to obtain financing will depend on many factors, including those listed under “RISK FACTORS” beginning on page 25 of this Form 10-K. As of December 31, 2018, we have an accumulated deficit of $27.2 million. In addition, in each of the years ended December 31, 2017 and 2018, we reported losses and negative cash flows from operating activities.
We currently have no agreements, arrangements, or understandings with any person to obtain funds through bank loans, lines of credit, or any other sources. Until we can generate significant continuing revenues, we expect to satisfy its future cash needs through debt or equity financings, or by out-licensing its distribution rights. We cannot be certain that additional funding will be available to it on acceptable terms, or at all. If funds are not available, we may be required to delay, reduce the scope of, or eliminate one or more of its development and commercialization efforts.
We address our liquidity issues by implementing initiatives to raise additional funds as well as other measures that it believes will allow it to continue as a going concern.
According to management estimates, our liquidity resources as of December 31, 2018 will not be sufficient to maintain our planned level of operations at least through March 31, 2020. We will need to seek additional capital for the purpose of implementing our business strategy and managing our business and developing drugs. Conducting clinical trials and commercializing products is expensive and we will need to raise substantial additional funds to achieve our strategic objectives. We have not yet generated any revenues from its current operations, and therefore are dependent upon external sources for financing our operations. We will require significant additional financing in the near future. Additional financing may not be available on acceptable terms, if at all. Our future capital requirements as well as the ability to obtain financing will depend on many factors, including those listed under “RISK FACTORS” beginning on page 25 of this Form 10-K. As of December 31, 2018, we have an accumulated deficit of $27.2 million. In addition, in each of the years ended December 31, 2017 and 2018, we reported losses and negative cash flows from operating activities.
We currently have no agreements, arrangements, or understandings with any person to obtain funds through bank loans, lines of credit, or any other sources. Until we can generate significant continuing revenues, we expect to satisfy its future cash needs through debt or equity financings, or by out-licensing its distribution rights. We cannot be certain that additional funding will be available to it on acceptable terms, or at all. If funds are not available, we may be required to delay, reduce the scope of, or eliminate one or more of its development and commercialization efforts.
We address our liquidity issues by implementing initiatives to raise additional funds as well as other measures that it believes will allow it to continue as a going concern.
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