Ciphergen Says Weak Balance Sheet Raises 'Substantial Doubt' About Ability to Stay Afloat | GenomeWeb
NEW YORK (GenomeWeb News) — Ciphergen said in a US Securities and Exchange Commission filing last week that its current cash balances “may not be sufficient to fund planned expenditures."
According to the company, "This raises substantial doubt about our ability to continue as a going concern."
The disclosure came a few days after Ciphergen said in an earlier SEC filing that first-quarter revenue ran dry as R&D spending dropped 36 percent and losses widened 11 percent.

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