Xenomics needs cash infusion to operate after 12 months

By Lisa Kerner

Charlotte, N.C., Sept. 20 - Xenomics, Inc. said it does not believe its existing capital resources are sufficient to fund operations for the next 12 months.

The company also questions its ability to continue as a going concern.

As a result, the New York City molecular diagnostic company is actively seeking additional capital to complete the development and commercialization of its current product candidates, according to a form 10-Q filing.

As of July 31, Xenomics had $1.69 million in cash, cash equivalents and marketable investments, down from $3.87 million at Jan. 31.

The company raised $650,000 and used $2.70 million for operating activities.

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