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Adolor Corporation
Adolor Corporation Announces Staff Reductions and Restructuring
June 26th, 2009
Adolor Corporation (Nasdaq:ADLR) announced a reduction in force of approximately 45 employees, or 28% of its workforce, as well as other cost saving initiatives intended to lower the Company's annualized net operating cash burn. The Company's primary focus going forward will continue to be on its first commercial product, ENTEREG® (alvimopan), which was launched in mid-2008, and the advancement of its clinical programs. The Company is restructuring its discovery group to focus on late stage, preclinical compounds, with fewer resources dedicated to early-stage programs. "This was a very difficult decision for the Company. Given the broader economic conditions in our...
Source: Health Business Week (2009-06-26)
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