DiaGenic diagnostic news
DiaGenic said it will reduce headcount to reduce costs. DiaGenic said the cost reduction program is focused on shorter-term asset value development while maximizing the company's flexibility for longer-term corporate development. The company expects the reductions to save over NOK600,000 ($101,424) per month. DiaGenic said it will provide more details on the outcome of the reduction following its completion. The company noted that Norwegian employees typically have a three-month notice period.
The company's key Alzheimer's disease (AD) diagnostics - AMYtect and MCItect - are in clinical development studies, with top-line data expected this quarter and full data expected in 4Q13. Following completion of the clinical studies, both products must undergo validation studies, which will require additional equity financing, strategic partnerships or an asset or trade sale. Also following readouts from the AMYtect and MCItect clinical studies, DiaGenic will conduct a validation study with ADtect, a blood-based test that measures the expression of 20 genes, for mild to moderate AD detection. ...