Acusphere diagnostic news
Acusphere will restructure and reduce headcount company wide by 40 (66%) to about 20 to reduce cash burn. The cuts include CFO and SVP Lawrence Gyenes The company will terminate its lease in Watertown, Mass. and consolidate operations at its manufacturing facility in Tewksbury, Mass. Acusphere said the moves will reduce its annual cash burn by $7.5 million and extend its cash into 3Q09 while it continues to explore strategic partnerships and financing alternatives. Acusphere has been exploring strategic options since February when the company announced cost-cutting measures and submitted an amendment to its NDA for Imagify perflubutane as an ultrasound imaging agent to detect coronary artery disease (CAD). The amendment pushed back the PDUFA date to May 31 from Feb. 28. ...