3.	Liquidity:

At December 31, 2018, the Company had cash of approximately $43.8 million. The Company used $24.1 million of cash in operations during the year ended December 31, 2018 and had stockholders’ equity of $29.7 million, versus stockholders’ equity of $8.9 million at December 31, 2017. The Company believes that it has sufficient current cash, along with expected proceeds from sales to manage the business as currently planned.

The Company’s cash on hand estimation assumes that the Company does not otherwise face unexpected events, costs or contingencies, any of which could affect the Company’s cash requirements from time to time. Available resources may be consumed more rapidly than currently anticipated, potentially resulting in the need for additional funding. Additional funding, capital or loans (including, without limitation, milestone or other payments from commercialization agreements) may be unavailable on favorable terms, if at all, which could leave the Company without adequate capital resources.