BRIEF-Allena Pharmaceuticals Needs To Raise Capital Imminently To Continue As A Going Concern

Reuters2022-08-11

Aug 11 (Reuters) - Allena Pharmaceuticals Inc :

* ALLENA PHARMACEUTICALS INC - NEEDS TO RAISE CAPITAL IMMINENTLY TO CONTINUE AS A GOING CONCERN

* ALLENA PHARMACEUTICALS INC - ADEQUATE FINANCING MAY NOT BE AVAILABLE ON ACCEPTABLE TERMS, OR AT ALL

* ALLENA PHARMACEUTICALS - CAN BE NO ASSURANCE THAT STRATEGIC PROCESS WILL RESULT IN PURSUING ANY DEAL OR THAT ANY DEAL, IF PURSUED, WILL BE COMPLETED

* ALLENA PHARMACEUTICALS INC - UNLESS COMPANY CAN RAISE CAPITAL TO FUND OPERATIONS, IT WILL NEED TO IMPLEMENT ADDITIONAL COST REDUCTION STRATEGIES

* ALLENA PHARMACEUTICALS - FAILURE TO OBTAIN SUFFICIENT FUNDS ON COMMERCIALLY ACCEPTABLE TERMS TO LIKELY HAVE MATERIAL ADVERSE EFFECT ON CO'S BUSINESS

* ALLENA - ADDITIONAL COST REDUCTION STRATEGIES MAY INCLUDE AMENDING, DELAYING, LIMITING, REDUCING, OR TERMINATING DEVELOPMENT PROGRAM FOR ALLN-346

* ALLENA PHARMACEUTICALS - WILL LIKELY NEED TO SEEK AN IN-COURT OR OUT-OF-COURT RESTRUCTURING OF ITS LIABILITIES

* ALLENA PHARMACEUTICALS - CONTINUING TO EVALUATE DATA FROM COHORTS A AND B OF STUDY 202 AND LONG-TERM VIABILITY OF THE ALLN-346 CLINICAL PROGRAM

* ALLENA PHARMACEUTICALS - CURRENTLY LACKS THE FINANCIAL RESOURCES TO CONDUCT STUDIES

Further company coverage:

((reuters.briefs@thomsonreuters.com;))

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