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7	7	Egalet Corporation is a fully integrated specialty pharmaceutical company developing, manufacturing and commercializing innovative treatments for pain and other conditions. Given the need for acute and chronic pain products and the issue of prescription abuse, the company focused on bringing non-narcotic and abuse-deterrent (“AD”) opioid formulations to patients and physicians. Egalet is currently marketing ARYMO® ER (morphine sulfate) extended-release (“ER”) tablets, for oral use CII (“ARYMO ER”), SPRIX® (ketorolac tromethamine) Nasal Spray (“SPRIX Nasal Spray”), and OXAYDO® (oxycodone HCI, USP) tablets for oral use only—CII (“OXAYDO”).
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21	21	Its net losses for the three months ended June 30, 2016 and 2017 were $23.8 million and $26.5 million, respectively, and $42.3 million and $51.9 million for the six months ended June 30, 2016 and 2017, respectively. Egalet recognized revenues in the three months ended June 30, 2016 and 2017 of $3.5 million and $6.3 million, respectively, and $6.1 million and $11.7 million for the six months ended June 30, 2016 and 2017, respectively. As of June 30, 2017, Egalet had an accumulated deficit of $277.8 million. Egalet expect to incur significant expenses and operating losses for the foreseeable future as Egalet incur significant commercialization expenses as Egalet continue to grow its sales, marketing and distribution infrastructure to sell its commercial products in the U.S.
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23	23	Until Egalet become profitable, if ever, Egalet will seek to fund its operations primarily through public or private equity or debt financings or other sources. Other additional financing may not be available to it on acceptable terms, or at all. Its failure to raise capital as and when needed could have a material adverse effect on its financial condition and its ability to pursue its business strategy. If Egalet is unable to raise capital when needed or on attractive terms, Egalet could be forced to delay, reduce or eliminate its research and development programs or any future commercialization efforts.
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