Point Therapeutics Update
2007年7月12日 - 9:30PM
ビジネスワイヤ(英語)
Point Therapeutics, Inc. (NASDAQ: POTP) today provided a further
update on corporate developments. To conserve its remaining cash
balance, the Company in June and July reduced its work force from
33 employees to 8 employees. The Company estimates that the total
charge for this work force reduction is approximately $260,000. In
the near future, the Company also intends to further reduce its
current workforce, which consists primarily of executive, financial
and legal personnel, by eliminating most of the employment
positions. The Company plans to replace its employees with a more
variable cost-effective consulting team to help the company as it
seeks a buyer or partner for its technology and related
intellectual property and other assets, in bankruptcy or otherwise.
In addition, the Company intends to move this month out of its
current company headquarters at 155 Federal Street, Boston, MA to
substantially smaller, temporary suburban space. About Point
Therapeutics, Inc.: Point is a Boston-based biopharmaceutical
company which has studied its lead product candidate, talabostat,
in two Phase 3 double blind placebo-controlled trials in metastatic
non-small cell lung cancer. Recent interim clinical results led the
Company�s Independent Monitoring Committee to recommend stopping
the Company�s two Phase 3 talabostat studies as a potential
treatment for patients in advanced non-small cell lung cancer, and
the talabostat clinical development program was subsequently put on
clinical hold by the FDA. The Company has also studied talabostat
in several Phase 2 trials, including as a single-agent in
metastatic melanoma, in combination with cisplatin in metastatic
melanoma, in combination with rituximab in advanced chronic
lymphocytic leukemia and in combination with gemcitabine in Stage
IV pancreatic cancer. Certain statements contained herein are not
strictly historical and are "forward-looking" statements as defined
in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts, and can be identified by, among other things, the use of
forward-looking language, such as "believes," "feels," "expects,"
"may," "will," "projects," "should," "seeks," "plans," "schedules
to," "anticipates" or "intends" or the negative of those terms, or
other variations of those terms of comparable language, or by
discussions of strategy or intentions. A number of important
factors could cause actual results to differ materially from those
projected or suggested in the forward-looking statements due to
risks and uncertainties to which the Company is subject, and other
factors that are described in Form 10-Q filed with the Securities
and Exchange Commission on May 10, 2007, and from time to time in
Point's other reports filed with the Securities and Exchange
Commission.
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