Liquidity and Capital Resources

6 Months Ended

Jun. 30, 2018

Liquidity and Capital Resources [Abstract]

Liquidity and Capital Resources

10. Liquidity and Capital Resources

At June 30, 2018, the Company had cash and cash equivalents of approximately $36.4 million. Management believes that our current cash and cash equivalents will be sufficient to fund our operations for the foreseeable future. The estimate is based, in part, upon our currently projected expenditures for the remainder of 2018 and the first seven months of 2019 of approximately $21.1 million, which includes approximately $1.0 million for our contract liabilities, approximately $2.3 million for the development of a novel companion diagnostic and the preclinical development of the new drug candidates at Centurion BioPharma, approximately $8.0 million for other general and administrative expenses, and approximately $9.8 million for interest and payments on the term loan, which matures August 1, 2018. These projected expenditures are also based upon numerous other assumptions and subject to many uncertainties, and our actual expenditures may be significantly different from these projections.

If NantCell obtains marketing approval and successfully commercializes aldoxorubicin, we anticipate it could take several years, for it to generate significant recurring revenue. We will be dependent on future financing and possible other strategic partnerships until such time, if ever, as it can generate significant recurring revenue. We have no commitments from third parties to provide any additional financing, and we may not be able to obtain future financing on favorable terms, or at all. If we fail to obtain sufficient funding when needed, we may be forced to delay, scale back or eliminate all or a portion of our development programs, seek to license to other companies our product candidates or technologies that we would prefer to develop and commercialize ourselves, or seek to sell some or all of our assets or merge with or be acquired by another company.