Posted by Jim Lovejoy on February 27, 1999 at 02:32:46:
In Reply to: Re: Celtrix's SomatoKine Demonstrates Positive Effects in Diabetes Patients posted by Al Gordon on February 26, 1999 at 20:50:18:
Maybe they don't believe the company will survive long enough to bring the results to market. As of 12/31/98 they had just over $1.8 million in the till, with a burn rate of $1.1 per quarter.
And expect to be unprofitable for the next several years.
Also, they have 6 million warrants out at $.55 a share. If they are excercised, the company can stay in business a while longer. A JV would really help. But it is in an iffy position.
Jim L.