Published in Vaccine Weekly, December 10th, 2003
During the quarter, cash and cash equivalents increased by $2.2 million to an ending balance of $8.1 million at September 30, 2003, from $5.9 million at June 30, 2003. The increase in cash and cash equivalents was primarily due to completion of an equity financing by the company in September 2003 that generated gross proceeds of $4.0 million, partially offset by cash used for operating expenses and non-recurring restructuring expenses.
Approximately $0.4 million of cash used during the third quarter was for one-time expenses related to the company's...
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