XTL: Sufficient cash for 24 months

XTL is engaged in the acquisition, development and commercialization of therapeutics for the treatment of infectious diseases, with a focus on hepatitis C.

By JERUSALEM POST STAFF
June 5, 2006 08:53
xtl logo 88

xtl logo 88. (photo credit: )

 
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XTL Biopharmaceuticals Ltd. said late last week that following a private placement that closed in late May in which it raised $28 million, it believes there are sufficient cash resources to finance the company's planned operations for at least the next 24 months. Therefore, the company said the "going concern" qualification contained in its 2005 financial statements that were filed in March was no longer applicable. XTL is engaged in the acquisition, development and commercialization of therapeutics for the treatment of infectious diseases, with a focus on hepatitis C.

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