MedWatch

Neurosearch is emptying out the cash register

Neurosearch emerged from the first quarter of 2012 with an operational deficit of DKK 22 million. The company expects to find a solution to its capital issues within a “short term”.

Foto: Neurosearch/PR

The biotech company Neurosearch emerged from the first quarter of 2012 with an operational deficit of DKK 22 million and a net deficit of 27.1 million, according to the company’s Q1 report for 2012. It means that the company’s deficit is smaller than in the same period last year, when operations were in the red by DKK 36.6 million and net deficit was a staggering 92.7 million.

The company still has no solution to its capital woes and whether it will succeed in finding a partner to finance its phase III trials with Huntexil – the company’s drug for Huntington’s disease – and secure its continued operation. For the same reason the report has been prepared on a going concern basis. Neurosearch has previously announced that they have enough capital to continue operations until the first quarter of 2013.

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