Techniclone borrows money to buy time as problems crowd in
This article was originally published in Clinica
Financially troubled Techniclone has announced a string of further bad news. Its chairman of one month's standing has resigned, it has defaulted on a $3.3 million loan and its stock is threatened with a delisting from NASDAQ. Techniclone has borrowed money from investors to continue operations at reduced levels. In addition, a clinical trial into Oncolym, a direct tumour targeting agent, has been cancelled.
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