Women's Health Weekly
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Clinical Trials
Cancer-focused company to downsize, focus on taxane compound clinical program
August 25th, 2005
Tapestry Pharmaceuticals, Inc. (TPPH), a company focused on the development of therapies for the treatment of cancer, announced that it is significantly reducing its cash burn and focusing its primary effort on advancing TPI 287, its lead anticancer compound, through the clinic. Tapestry expects savings from this downsizing, and other cost saving measures, to total approximately $7.4 million through the end of 2006. The company expects to eliminate 14 positions, about 30% of its workforce, including executive and nonexecutive employees and consultants in all areas of operations. There will be a one-time cost of approximately $270,000 to implement this downsizing. ...
Source: Women's Health Weekly (2005-08-25)
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