By Val Brickates Kennedy
BOSTON (MarketWatch) -- Oscient Pharmaceuticals (OSCI) said early Wednesday in its fourth quarter 2008 financial report that its auditors have warned it may not be able to continue as a going concern because of lack of cash. The biotechnology company reported that while it had 2008 revenues of about $87 million, it had a net loss of $65 million and only has $17 million in cash on hand. Oscient said that it has engaged Broadpoint Capital to explore strategic options for the company, including a possible sale. Waltham, Mass.-based Oscient, which markets the cardiovascular drug Antara and antibiotic Factive, has 213 employees.
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