Melinta Therapeutics stock plunges toward record low after another 'going concern' warning [MarketWatch]
MELINTA THERAPEUTICS INC (MLNT)
Last melinta therapeutics inc earnings: 11/12 04:39 pm
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Source: MarketWatch
Melinta Therapeutics stock plunges toward record low after another 'going concern' warning Shares of Melinta Therapeutics Inc. MLNT, -43.00% plummeted 45% toward a record low to pace all premarket decliners Wednesday, after the commercial-stage drug maker included a "going concern" warning in its quarterly filing, for the third consecutive quarter. The first warning by the company that it believed there was "substantial doubt about our ability to continue as a going concern" was in the 10-Q filing with the Securities and Exchange Commission on May 10. The stock had tumbled 25.5% that day, and fell 19% on Aug. 9 when that warning was repeated. In the 10-Q filed late Tuesday, the cmopany said it is "likely in the next few months" that the company would violate financial-related covenants that require a certain minimum revenue, minimum cash and an audit opinion without a going concern qualification. The stock has tumbled 72% year to date, while the S&P 500 SPX, -0.25% has climbed 2
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