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12:00 AM
Apr 05, 2010
 |  BioCentury  |  Finance

Restructuring Watch

Restructuring Watch

Date Company Staff cuts Cash Years cash pre-cut Cash date 12-mo op loss ended 12/31/09
1/7/10 Molecular Insight Pharmaceuticals Inc. (NASDAQ:MIPI) 13% to 61 $64.0 1.38 12/31/09 $46.3
Cuts are companywide; expects annual savings of about $1M
1/18/10 LifeCycle Pharma A/S (CSE:LCP) 46% to 35 $64.6 1.19 12/31/09 $54.1
Cuts coming from chemistry, manufacturing and administration; focusing on late-stage development, while adding 10 employees in late-stage and business development
1/28/10 Ark Therapeutics Group plc (LSE:AKT) NA $11.1 0.32 12/31/09 $35.1
In discussions with employee representatives to reduce headcount in manufacturing, R&D, support staff and non-core early-stage research programs; places Vitor on hold to conserve cash; it was in Phase III development to treat cancer-induced cachexia
2/3/10; Poniard Pharmaceuticals Inc. (NASDAQ:PARD) 57% to 21; $49.7 1.16 12/31/09...

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