BioCentury on BioBusiness,
Finance
Table: Restructuring watch
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Published on
Monday, July 2, 2012
At least nine companies reduced their workforces
during the second quarter, compared to at least six in the same period last
year. All cash and operating loss figures in $M. (A) 12-month operating loss at
Dec. 31, 2011
|
Date
|
Company
|
Staff
cuts
|
Cash
|
Yrs
cash pre-cut
|
Cash
date
|
3-mo
op loss ended 3/31
|
|
4/16/12
|
Addex
Therapeutics (SIX:ADXN)
|
31%
to 54
|
$39.3
|
1.17
|
12/31/11
|
$33.7
(A)
|
|
Restructuring
for the second time in nine months to reduce costs following the termination
of two licensing deals by Merck & Co. Inc. (NYSE:MRK); expects to
extend cash reach into 4Q13; Addex's dipraglurant-IR is in Phase II testing
to treat Parkinson's disease levodopa-induced dyskinesia (PD-LID)
|
|
4/16/12
|
WaferGen
BioSystems Inc. (OTCBB:WGBS)
|
38%
to 33
|
$12.0
|
0.86
|
3/31/12
|
$3.5
|
|
Focusing
on SmartChip Real-Time PCR System, which profiles and validates gene
expression patterns; expects a monthly burn rate of about $700,000
|
143
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