San Francisco-based Trimeris is being applauded by investors for reorganizing the company and initiating a round of layoffs to cut expenses while focusing on revenue. Trimeris developed the HIV therapy Fuzeon with Roche and says it will concentrate on maximizing revenue on the therapy. Meanwhile, its CEO--Steven Skolsky (photo)--is among the first casualties in the cutbacks. Chief scientific officer Dani Bolognesi will add the CEO title to her list of jobs. Trimeris says it will have $65 million on hand by the end of 2007. Its stock jumped 15.5 percent in after-market trading. Trimeris also has other therapies for viral diseases in the pipeline.
- see the press release on the cutbacks
- here's the report on Trimeris from MarketWatch