BioCentury
ARTICLE | Company News

Myrexis cancer news

March 12, 2012 7:00 AM UTC

Myrexis said it would reduce headcount to 10 by June 30. The move follows a February announcement that the company retained Stifel Nicolaus Weisel to evaluate strategic alternatives and suspended development of all its preclinical and clinical programs. Last November, the company said it would reduce headcount by 15 (19%) to 62. The move is expected save more than $10 million annually plus additional reductions in external drug development costs. Details were not disclosed (see BioCentury, Dec. 5, 2011 & Feb. 20, 2012).

For its 2Q12 ending Dec. 31, 2011, Myrexis had $80.7 million in cash and a six-month operating loss of $16.3 million. ...