Nivalis restructuring

Nivalis will reduce headcount by 25 (83%) to about 5 to preserve cash while exploring strategic alternatives, including an acquisiton and merger. The headcount reduction will include President and CEO Jon Congleton, CMO and EVP of Discovery David Rodman, Medical Director and VP of Clinical Research and Discovery Steven Shoemaker and VP of Scientific Search and Alliance Management Sherif Gabriel. CFO Michael Carruthers will act as interim president...