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Article: Bradmer implements cash conservation plan.
- Article from:
- Biotech Week
- Article date:
- March 18, 2009
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Bradmer Pharmaceuticals Inc. (BMR.TSX), announced that it will implement a restructuring plan to conserve existing cash resources. The plan is in response to the uncertain state of the capital markets and the Company's ongoing evaluation of strategic alternatives (see also Bradmer Pharmaceuticals Inc.).
As announced on February 17, 2009, a delay in completing the 60-patient "run-in phase" and full enrollment of the GLASS-ART Trial was identified by the Company. This delay will require the Company to secure additional capital in order to continue the GLASS-ART Trial in its current form. Given current market conditions, the Company does not believe that it will be ...