Tengion renal, cancer, gene/cell therapy news

Tengion said in its 2Q12 earnings that it expects to only have enough cash to fund its operations through Aug. 31 and therefore intends to pursue additional sources of capital. If Tengion cannot obtain additional financing the company will not be able to continue business and expects to file for bankruptcy. At June 30, Tengion had $3.7 million in cash, with a six-month operating loss of $8.6 million. In June, Tengion implemented a 1-for-10 reverse stock split to regain compliance with NASDAQ's minimum bid price requirement for continued listing (see BioCentury, June 4). ...