Regado Biosciences cardiovascular news
Regado said it will reduce headcount by about 60%, or 20 employees, across all operational sites. Regado said that the staff reduction and termination of expenses related to the Phase III REGULATE-PCI trial evaluating the Revolixys Kit will decrease annualized cash expenditures "significantly," but said that more details will be included in its 3Q14 financial reporting. Regado said it will focus resources on completing the final closure of REGULATE-PCI and analysis of the unblinded database, which is expected in 4Q14; on diligence associated with exploring potential business alternatives; and on compliance related with being a public company in good regulatory standing. As of June 30, the company had $72.7 million in cash and a six-month operating loss of $37 million. MTS Health Partners and Cowen are Regado's strategic advisors. ...