Health Business Week
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Health Business Week
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Adventrx Pharmaceuticals, Inc.
ADVENTRX Announces Further Cost-Cutting Measures
January 23rd, 2009
ADVENTRX Pharmaceuticals, Inc. (NYSE Alternext US: ANX) announced that it has implemented a further reduction-in-force in an effort to extend its remaining cash and to prepare itself for a strategic transaction. This follows a reduction implemented in October 2008. In all, the Company's workforce has declined by approximately 55% since the beginning of the fourth quarter of 2008. Following the current reduction and other planned departures, the Company will have fourteen employees. In addition, the Company has substantially reduced or delayed spending on third-party consulting and vendor services, including contract manufacturing. ADVENTRX's remaining employees will...
Source: Health Business Week (2009-01-23)
|
