The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Anyone Else Short on Cash?

Yesterday, the WSJ Health Blog picked up on Burrill & Co.’s report, noting that one-third (120 out of 360) of publicly-traded U.S. biotech companies have under 6 months’ cash left, a figure that sounds depressingly familiar…

In the UK, the BioIndustry Association put out a press release January 27 that said:

The current situation is grave – approximately a third of publicly quoted UK bioscience companies have less than six months cash remaining. 

And here in Canada, BIOTECanada’s latest Parliamentary Quarterly (pdf) includes this nugget:

As of December 2008, over 25% of Canadian biotechs have less than 6 months cash remaining and … for smaller public companies, more than 40% have less than 12 months cash remaining. 

So please, give now.  And if you can’t spare the cash, pick up a pipette and go volunteer.  Every microlitre counts. 

Seriously, this is ugly.  Check out the Biotech Bailout page and toss an idea into the ring.

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