Arpida Ltd (SIX: ARPN) announced today its financial results for the six months ending 30 June 2009.
Key events 2009 to date - Regulatory setback for intravenous iclaprim in cSSSI in U.S.A. - Strategic options under review - Company restructuring completed
Cash and financial investments of CHF 22.7 million at 30 June 2009
CFO Harry Welten, MBA, commented: "Our cost-saving measures have been implemented, resulting in a substantial reduction of the cash burn. We expect to have cash and financial investments of around CHF 14 million at the end of 2009."
Dr Jurgen Raths, President and CEO, commented: "Arpida is going through challenging times. We've completed a painful restructuring process in anticipation of a possible strategic deal. We remain fully committed to finding a strategic partner and securing the maximum value for our shareholders. Discussions are ongoing, as soon as these advance, we will provide an update."