Brief: Allena Pharmaceuticals Needs To Raise Capital Imminently To Continue As A Going Concern

Allena Pharmaceuticals

11/08/2022 14:52

Aug 11 (Reuters) - Allena Pharmaceuticals Inc  ALNA.O :
    * ALLENA PHARMACEUTICALS INC - NEEDS TO RAISE CAPITAL
IMMINENTLY
TO CONTINUE AS A GOING CONCERN
    * ALLENA PHARMACEUTICALS INC -  ADEQUATE FINANCING MAY NOT
BE
AVAILABLE ON ACCEPTABLE TERMS, OR AT ALL
    * ALLENA PHARMACEUTICALS - CAN BE NO ASSURANCE THAT
STRATEGIC
PROCESS WILL RESULT IN PURSUING ANY DEAL OR THAT ANY DEAL, IF
PURSUED, WILL BE COMPLETED
    * ALLENA PHARMACEUTICALS INC - UNLESS COMPANY CAN RAISE
CAPITAL TO
FUND OPERATIONS, IT WILL NEED TO IMPLEMENT ADDITIONAL COST
REDUCTION STRATEGIES
    * ALLENA PHARMACEUTICALS -   FAILURE TO OBTAIN SUFFICIENT
FUNDS ON
COMMERCIALLY ACCEPTABLE TERMS  TO LIKELY HAVE MATERIAL ADVERSE
EFFECT ON CO'S BUSINESS
    * ALLENA - ADDITIONAL COST REDUCTION STRATEGIES MAY INCLUDE
AMENDING, DELAYING, LIMITING, REDUCING, OR TERMINATING
DEVELOPMENT PROGRAM FOR ALLN-346
    * ALLENA PHARMACEUTICALS -   WILL LIKELY NEED TO SEEK AN
IN-COURT
OR OUT-OF-COURT RESTRUCTURING OF ITS LIABILITIES
    * ALLENA PHARMACEUTICALS -    CONTINUING TO EVALUATE  DATA
FROM
COHORTS A AND B OF STUDY 202 AND LONG-TERM VIABILITY OF THE
ALLN-346 CLINICAL PROGRAM
    * ALLENA PHARMACEUTICALS -    CURRENTLY LACKS THE FINANCIAL
RESOURCES TO CONDUCT STUDIES

Further company coverage:  ALNA.O 

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