Restructuring watch

Restructuring watch

Date Company Staff cuts Cash Years cash pre-cut Cash date 1Q07 operating loss
4/4/07 Orchestra Therap (OCHT) 44% to 22 $2.2 0.15 3/31/07 $3.7
Seeks strategic alternatives for its IR103 program after the HIV compound did not show efficacy in a Phase II trial. OCHT (previously Immune Response) plans to focus on treatments for autoimmune diseases, including NeuroVax, a peptide vaccine that has completed a Phase II trial to treat multiple sclerosis (MS).
4/10/07 Genaera (GENR) 30% to 23 $29.7 1.6 3/31/07 $4.7
Focuses on development of

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