Restructuring watch
By BC Staff | Jan 5, 2009 | 8:00 AM GMT
Restructuring watch
| Date | Company | Staff cuts | Cash | Years cash pre-cut | Cash date | Oper loss for 9 mos ended 9/30 |
| 10/8/08 | Genmab (CSE:GEN) | 16% to 540 | $402.0 | 3.11 | 9/30/08 | $97.0 |
| Cuts primarily coming from R&D; says it plans to sharpens its focus on cancer |
| 10/8/08 | Nventa (TSX:NVN) | 60% to 5 | $5.9 | 0.55 | 10/1/08 | $8.0 |
| Reducing cash burn by 30%; seeking alternatives, including M&A or partners for lead compound HspE7, which has completed a Phase I trial to treat precancerous and cancerous lesions caused by HPV, and its preclinical compounds |
| 10/10/08 | Tripep (SSE:TPEP) (A) | 66% to 2 | $1.2 | 0.26 | 9/30/08 | $3.5 |
| Negotiating the sale of a portion of the rights to ChronSeal, a controlled-release gel formulation of hepatocyte growth factor (HGF) in Phase II testing for wound healing; planning to partner ChronVac-C, a DNA vaccine against HCV delivered using MedPulser electroporation platform that is in Phase I/II testing to treat HCV infection |
| 10/16/08 | Cell Genesys (NASDAQ:CEGE) | 75% to ~72 | $148.1 | 2.40 | 9/30/08 | $46.3 |
| Exploring strategic alternatives, including a merger or
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