Pharmasset Receives US$10 Million of Working Capital.
PR Newswire Europe, March, 2008
PRINCETON, New Jersey, March 28 /PRNewswire/ --
Pharmasset, Inc. (Nasdaq: VRUS) received a second loan of US$10 million from Horizon Technology Finance under an existing working capital loan agreement that was entered into during September 2007. Pharmasset received the first loan of US$10 million in October 2007 and, at its option, may receive a third loan of US$10 million by November 30, 2008, provided certain conditions are satisfied.
"We believe that our existing cash resources, together with a third loan available under our working capital agreement and anticipated payments under our existing HCV collaboration agreement with Roche, will be sufficient to fund our projected cash requirements for the next 18 months," stated Kurt Leutzinger,...
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