GTC's future clouded as cash dwindles - Boston Business Journal:

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The Framingham, Mass., biotech GTCB) said in its year-enc earnings release that its auditing firm, PricewaterhouseCooperes LLP, will detail in the company’s yet-to-be filed annualo report its “substantial doubt” that the company will be able to continur as a viable entity because of its cash burn rate and relativel y small amount of cashon hand. At year’s end, GTC had $11.76 million in cash and marketable securities, comparexd with $15.8 million at the end of 2007. The company expectzs to burn through anadditional $18 million to $22 milliomn this year, including projected revenues from partnershipse yet to be signed. GTC’s fourth quarter revenue fell to $1.
0 from $3.1 million in the same period in 2007. Its net loss for the fourtg quartertotaled $6.2 million, comparede with $9.8 million in 2007. For the full GTC’s revenue grew 19.9 percent to $16.7 million on increase s in services provided to a single Its net loss narrowed 38 percentto $22.7 million.