MedNous

Alizyme issues warning about its financial position

Tuesday 30 June 2009

Country: United Kingdom

Alizyme Plc has told investors that there is a “material uncertainty” about whether it will receive milestone payments for one of its drug development programmes. Barring additional funding, it would therefore be unable to continue as a going concern.

The London Stock Exchange-listed company issued the trading update on 29 June 2009.

“The Company does not now expect to have sufficient funding to last beyond the end of August 2009 and will be unable to continue as a going concern without the raising of additional funds. The Company is in discussions with its advisers in relation to such funding. In the absence of additional funds, the Company may face going into administration or liquidation,” the statement said.

Alizyme has two partne