RaQualia restructuring

RaQualia Pharma Inc. (JASDAQ:4579) said it will restructure and reduce headcount to focus on four compounds in development for gastrointestinal diseases. The company plans to reduce headcount by about 12 (14%) to 70 in 2013, including the elimination of nine R&D-related positions. RaQualia said it also will replace its president, but did not disclose details. The company expects to reduce business expenses to Y2.1 billion ($26.1 million) in 2013, compared with the estimated Y2.8 billion ($35.9 million) for 2012.

RaQualia announced the restructuring after reporting 3Q12 financial results last week and lowering its 2012 revenue guidance. The company now expects 2012 revenue of Y100 million ($1.3 million). Previously, it expected full year revenue of Y100-Y600 million ($1.3-$7.6 million). ...