71478--3/15/2006--LIPID_SCIENCES

related topics

{product, candidate, development}

{control, financial, internal}

{stock, price, share}

{regulation, change, law}

{acquisition, growth, future}

{product, liability, claim}

{cost, regulation, environmental}

{personnel, key, retain}

{property, intellectual, protect}

{competitive, industry, competition}

If we are unable to obtain adequate funds, we may not be able to develop and pursue the commercial application of our HDL Therapy and Viral Immunotherapy platforms. We have incurred significant losses since our inception, will continue to incur substantial losses in the future and may never achieve or maintain profitability. Our technology is only in the clinical development stage, may not prove to be safe or effective, and may never receive regulatory approval or achieve widespread use, which would significantly harm our business prospects. Our future clinical studies may be delayed or unsuccessful. We depend on our license agreement with Aruba International B.V. that may, if terminated, significantly harm our business. We intend to rely on collaborations in order to further develop our products and processes. If we are unable to enter into any collaborations, or if any of these collaborations are unsuccessful, the development of our products could be adversely affected and we may incur significant unexpected costs. Our industry is intensely competitive. If we fail to secure and then enforce patents and other intellectual property rights underlying our technologies, or if the use of our technology is determined to infringe on the intellectual property rights of others, our business, financial condition and results of operations could be harmed. If we use biological and hazardous materials in a manner that causes injury, we may be liable for damages. Because most of our products are based on technologies that are unfamiliar to the healthcare community, they may not be accepted by healthcare providers and patients, which could harm our business. We depend on key personnel and will need to hire additional key personnel in the future. Our stock price may be volatile and there may not be an active trading market for our common stock. Existing stockholders may experience future dilution. We have adopted several anti-takeover measures. Compliance with changing regulation of corporate governance and public disclosure may result in additional expenses. While we believe that we currently have adequate internal control procedures in place, there can be no assurance that any design will succeed in achieving its stated goals under all future conditions.

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71478--3/15/2006--LIPID_SCIENCES_INC/