GPC Biotech has cash to cover three years of operations

GPC Biotech AG has confirmed that its cash reserves are sufficient to cover about three years of business operations following a regulatory setback in 2007 that affected its lead cancer product, satraplatin.  On 31 December 2007, cash and cash equivalents amounted to €65.2 million, which is enough to cover development of the company’s most promising oncology programmes, GPC said in a statement on 27 March 2008.

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