NEW YORK (Thomson Financial) - Memory Pharmaceuticals Corp. said late Friday
it received an audit opinion relating to the company's ability "to continue as a
going concern."
The Montvale, N.J.-based biopharmaceutical company said its independent
accounting firm included the opinion with the company's financial statements in
the recently filed Form 10-K for the year ended Dec. 31, 2007.
In its Form 10-K, Memory Pharma said it plans to raise additional equity or
other financing, and to seek funding from collaboration partners to finance its
future cash requirements.
The company said it may not be able to obtain additional funding on
acceptable terms or at all.
"If we are unsuccessful in our efforts to raise additional funds, we would
be required to reduce or curtail our operations and costs," the company said in
the filing.
The stock closed the regular session at 50 cents.
Wanfeng Zhou
wz/kh
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