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Published on: 10/31/2007
Last Visited: 10/31/2007
"We expect that our cash and short-term investments should sustain operations through at least the third quarter of 2008," Liponex CEO Bill Dickie said in a statement.
Mr. Dickie reiterated the company's goal to find a financial partner for the long term, saying, "We are continuing to advance the CRD5 program in the short term with available resources but we are looking to secure a partnership, co-development agreement, or financing agreement for its longer-term development.In parallel, we are seeking out strategic options to leverage the company's assets and resources."
He noted that Liponex was continuing to test the efficacy of its new formulation of CRD5 in animal subjects, with trial results expected early in the first quarter of 2008.