Greenwich Pharmaceuticals Inc. sales and marketing update

GRPI is revising its operating plan and said that its cash position of $17.3 million is enough to meet expenditures into the fourth quarter of 1994. The restructuring includes a freeze on hiring, cuts in temporary staff, curtailing capital investments and reducing material acquisition and marketing preparation expenditures.

GRPI also said it received notification from the FDA that Therafectin's NDA is to be presented to the Arthritis Advisory Committee in an open meeting tentatively scheduled for Jan. 27-28. The meeting is to resolve questions raised by the FDA's Sept. 13 "not approvable" letter for the drug. ...