At least 14 companies reduced their workforces during 4Q12, compared to at least 21 in 4Q11. All cash and operating loss figures in $M. (A) Six-month operating loss for the period ended June 30; (B) Three-month operating loss for the period ended Sept. 30; (C) Nine-month operating loss for the period ended Aug. 31; (D) Six-month net loss for the period ended Sept. 30

Date

Company

Staff cuts

Cash

Yrs cash pre-cut

Cash date

9-mo op loss ended 9/30

10/1/12

MagForce AG (Xetra:MF6)

56% to 12

$0.1

0.01

6/30/12

$4.5 (A)

Restructures for the second time in a year; focusing on a postmarketing trial of NanoTherm therapy for glioblastoma, which is slated to begin early this year; the product received CE Mark approval in 2010

10/2/12

BioInvent International AB(SSE:BINV)

29% to 48

$23.3

0.68

6/30/12

$25.7

Follows a 24% headcount reduction in June 2012; focusing R&D on cancer programs, including BI-505, a human mAb against intercellular adhesion molecule-1 (ICAM-1; CD54), which is in Phase I for multiple myeloma (MM), and two undisclosed compounds slated to begin preclinical testing this year

10/8/12

Targacept Inc. (NASDAQ:TRGT)

38% to 43

$195.0

6.02

9/30/12

$8.1 (B)

Expects to save $9.6M annually from the October restructuring, which followed a 46% headcount reduction in April 2012; discontinued development of TC-5619 for ADHD in September 2012 after the nicotinic acetylcholine receptor alpha 7 (CHRNA7) agonist failed in a Phase II trial; expects data from a Phase II trial of TC-5619 for schizophrenia mid-year