At least 13 companies reduced their workforces in the fourth quarter, compared with at least 14 in the same period in 2012. All cash and operating loss figures in $M. (A) Three-month operating loss for the period ended Sept. 30; (B) Six-month operating loss for the period ended June 30; Sources: BCIQ: BioCentury Online Intelligence; company documents



Staff cuts


Yrs cash pre-cut

Cash date

9-mo op loss ended 9/30



60% to 35





Majority of cuts are from preclinical R&D. In August, GTx announced results in a pair of Phase III trials of enobosarm to prevent and treat muscle wasting in patients with non-small cell lung cancer (NSCLC) receiving chemotherapy. In POWER 1, enobosarm met the co-primary endpoint of improving total lean body response rate but missed the co-primary endpoint of improving physical function response rate vs. placebo. In POWER 2, enobosarm missed both of the co-primary endpoints. GTx said it will discuss the results with FDA and European regulatory authorities, but has no plans to discontinue the program. The non-steroidal selective androgen receptor modulator (SARM) is also in Phase II testing in breast cancer patients.


Echo Therapeutics Inc. (NASDAQ:ECTE)

33% to 30-35





Restructured to reduce operating costs, particularly in marketing, manufacturing and corporate G&A. The company expects a 35-40% reduction in 4Q13 cash burn rate compared to 3Q13. In November, Echo completed a European clinical trial to support CE Mark approval of Symphony CGM System, a non-invasive transdermal glucose monitoring system, for use in the hospital critical care setting.