Cash-Short Beltsville-Based Metamorphix Hopes New Petco Deal Will Buy Time

Summary

---

Executives at Metamorphix Inc. are touting successes such as a deal to sell its dog breed DNA test through Petco stores that they say could help the struggling animal genomics company break even this year.

However, in a letter sent to investors Wednesday, the executives also make clear that the cash-strapped biotech is in a race against the clock to raise at least $10 million in short-term capital to stay afloat.

See the full content of this document

Extract

---

Cash-Short Beltsville-Based Metamorphix Hopes New Petco Deal Will Buy Time

While the Beltsville-based company has seen revenues rise and deals come to fruition with not only its dog-breed tests, but also with its livestock tests,...

See the full content of this document

---