AtheroGenics (AGIX) Cuts Headcount by 40%; to Record One-Time Charge of $400K in Q3
In a Form 8-K, AtheroGenics, Inc. (Nasdaq: AGIX) announced that on September 19, the company reduced its employee headcount by approximately 40% to a current staff of 30 employees. In addition, the Company has also eliminated approximately 20 open positions as a result of the downsizing. The Company is providing severance to employees affected by the workforce reduction, resulting in a one-time charge of approximately $400,000 related to the severance benefits, which will be paid in Q308.
Atherogenics Inc., a research-based pharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of chronic inflammatory diseases, including diabetes and coronary heart disease.
Atherogenics Inc., a research-based pharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of chronic inflammatory diseases, including diabetes and coronary heart disease.
You May Also Be Interested In
- DISH Network (DISH) Sued by Networks for 'Commercial Skipping' Feature
- Syngenta (SYT) settles atrazine litigation; will pay $105M in deal
- Vertex Pharmaceuticals (VRTX) Gets Positive Opinion from CHMP for KALYDECO
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
