TARRYTOWN, N.Y., March 12 /PRNewswire-FirstCall/ -- Emisphere
Technologies, Inc. ("Emisphere," Nasdaq: EMIS) announced today an addendum
to its fourth quarter and year ended 2006 financial results, reported on
February 27, 2007. On March 5, 2007, the Company filed its annual report on
Form 10-K for the year 2006. Such annual report on Form 10-K includes the
audit report prepared by Emisphere's independent registered public
accounting firm relating to its consolidated financial statements for the
year ended December 31, 2006, which includes an explanatory paragraph
expressing substantial doubt about the Company's ability to continue as a
going concern. This doubt is raised because the Company anticipates that
its existing capital resources will not enable it to continue operations
past approximately September 2007 or earlier if unforeseen events or
circumstances arise that negatively affect the Company's liquidity.
Emisphere is currently evaluating various financing options to address
its future cash needs.
About Emisphere Technologies, Inc.
Emisphere Technologies, Inc. is a biopharmaceutical company pioneering
the oral delivery of otherwise injectable drugs. Emisphere's business
strategy is to develop oral forms of injectable drugs, either alone or with
corporate partners, by applying its proprietary eligen(R) technology to
those drugs or licensing its eligen (R) technology to partners who
typically apply it directly to their marketed drugs. Emisphere's eligen (R)
technology has enabled the oral delivery of proteins, peptides,
macromolecules and charged organics. Emisphere and its partners have
advanced oral formulations or prototypes of salmon calcitonin, heparin,
insulin, parathyroid hormone, human growth hormone and cromolyn sodium into
clinical trials. Emisphere has strategic alliances with world-leading
pharmaceutical companies. For further information, please visit
http://www.emisphere.com.
Safe Harbor Statement Regarding Forward-looking Statements
The statements in this release and oral statements made by
representatives of Emisphere relating to matters that are not historical
facts (including without limitation those regarding the timing or potential
outcomes of research collaborations or clinical trials, any market that
might develop for any of Emisphere's product candidates and the sufficiency
of Emisphere's cash and other capital resources) are forward-looking
statements that involve risks and uncertainties, including, but not limited
to, the likelihood that future research will prove successful, the
likelihood that any product in the research pipeline will receive
regulatory approval in the United States or abroad, the ability of
Emisphere and/or its partners to develop, manufacture and commercialize
products using Emisphere's drug delivery technology, Emisphere's ability to
fund such efforts with or without partners, and other risks and
uncertainties detailed in Emisphere's filings with the Securities and
Exchange Commission, including those factors discussed under the caption
"Risk Factors" in Emisphere's Annual Report on Form 10-K (file no. 1-10615)
filed on March 5, 2007.
SOURCE Emisphere Technologies, Inc.
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Related links:
http://www.emisphere.com
CONTACT:
Stewart Siskind, Investor Relations,
Emisphere Technologies, Inc., +1-914-785-4742; or Media: Dan
Budwick, BMC Communications, +1-212-477-9007 ext. 14
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