Epix to restructure, focus on lead products
Epix Pharmaceuticals said it will have to restructure as a result of the FDA's decision that its Vasovist blood vessel contrast agent will need to be studied in another clinical trial before it can be approved. Epix said that it will be forced to cut an unspecified number of jobs in the first quarter of 2006 in order to reduce its burn rate as it focuses on its two lead products. Epix's stock fell 11 percent on news of the FDA's actions.
- read this AP report for more
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