Vasogen (VSGN) Halts Expenses Associates with VP Program
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Vasogen Inc. (NASDAQ: VSGN) has implemented additional restructuring plans to further reduce its cash burn rate. As previously announced, the Company has been exploring strategic alternatives that may include potential acquisitions and mergers. In conjunction with this process, the Company has also completed an extensive review of its VP series of drugs, and has determined that it is in the best interest of its shareholders to halt expenses associated with the VP program while it completes its strategic review process.
"While we maintain our belief in the science underlying both Celacade and our VP series of drugs, the Board believes that the decision announced today is necessary in order to further conserve cash resources while completing the Company's ongoing strategic review process," commented Chris Waddick, President and CEO of Vasogen.
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