LYCOS RETRIEVER 
Cellegy Pharmaceuticals: Company
built 607 days ago
On November 14, 2007, Cellegy Pharmaceuticals, Inc. (the “Company”) and Robert J. Caso, Vice President, Finance and Chief Financial Officer, entered into a retention agreement. The description below is qualified in its entirety by the full text of the retention agreement, which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
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Cellegy Pharmaceuticals Inc. filed its 10-K on April 02, 2007 for the period ending December 31, 2006. In this report its auditor, Mayer Hoffman Mccann PC, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
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To cut costs, Cellegy has outsourced research and drug development and clinical research, and shrunk from 27 employees in Huntingdon Valley last August to eight or nine now. The company ... has five employees in California, Caso said. In addition, Biosyn cofounder Anne-Marie Corner, Cellegy's senior vice president of women's preventive health, resigned in January.
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