ARTICLE | Company News

Miravant Medical Technologies cancer, ophthalmic news

January 28, 2002 8:00 AM UTC

MRVT said it introduced a cost restructuring program to reduce the company's burn rate to $3-$3.5 million from about $4-$5 million per quarter. The cost reductions are expected to come from salary adjustments and sub-leasing of certain office facilities. The company had $8.6 million in cash as of Sept. 30, 2001. ...