Oncor's finances critical as sale of Codon falls through
This article was originally published in Clinica
Executive Summary
Cash flow at Oncor is now critical and its reserves took a blow as the sale of one of its subsidiaries fell through last week. The failure to conclude the sale of its Codon Pharmaceuticals gene therapy subsidiary prompted one of its creditors to declare the frustrated sale a "material adverse event" and to immediately ask for repayment of a $4 million note.