As of December 31, 2012, NuPathe had $22.6M in cash and cash equivalents and working capital of $19.8M, compared with $23.1M in cash and cash equivalents and working capital of $11.0M as of December 31, 2011. Management said it estimates that the company's existing cash and cash equivalents will be sufficient to fund operations and debt service obligations into the fourth quarter of 2013. The additional capital that the company will require to launch ZECUITY and to fund operations and debt service obligations beyond that point will depend largely upon the timing, scope, terms and structure of a commercial partnership for ZECUITY. However, the company said there is no assurance that the company will be able to secure a commercial partner on acceptable terms, and additionally no assurance that additional required capital will be available when needed or on acceptable terms.
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