Chelsea (CHTP) Shares Continue Lower Amid CEO, Chairman Resignations, Layoffs
Tweet Send to a Friend
Up)
Investors are continuing to sell shares of Chelsea Therapeutics (Nasdaq: CHTP) after the company this morning announced a large headcount reduction and the resignations of its Founder, President and CEO Simon Pedder and Chairman Kevan Clemens.
After falling about 3 percent on Monday, Chelsea shares are indicated about 7 percent lower Tuesday ahead of the open. The stock last traded at $1.15.
While specific figures on the the layoffs were not given, Chelsea said it will be "retaining only those employees necessary to gain marketing authorization of Northera™ (droxidopa) in the U.S."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
After falling about 3 percent on Monday, Chelsea shares are indicated about 7 percent lower Tuesday ahead of the open. The stock last traded at $1.15.
While specific figures on the the layoffs were not given, Chelsea said it will be "retaining only those employees necessary to gain marketing authorization of Northera™ (droxidopa) in the U.S."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Fannie Mae, Freddie Mac Surge as Seriously Delinquent Rate Falls Below 3%
- Chelsea Therapeutics to Present at the 38th Annual Deutsche Bank Health Care Conference
- Cleantech Solutions (CLNT) Goes Red to Green After Yesterday's 159% Rise
Create E-mail Alert Related Categories
Corporate News, Momentum Movers
Login with Facebook
Sign 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!
