Macrocure (MCUR) Reports In-Line Q3 EPS, Plans Restructuring

Macrocure (NASDAQ: MCUR) reported Q3 EPS of ($0.32), in-line with the analyst estimate of ($0.32).

"As previously stated, we remain focused on the interests of all stakeholders of Macrocure and are committed to maximizing the value of the Company. Following our disappointing clinical announcements regarding our Phase III studies for CureXcell on August 19 and October 27, we are analyzing data from both Phase III studies in VLU and DFU to understand why these trials did not meet their study endpoints and to determine if there is continuing value to the underlying technology. As this analysis proceeds, we have also commenced a process to review all strategic alternatives for the Company. Finally as we assess our alternatives, we continue to focus on managing and conserving our existing cash through cost reduction and restructuring initiatives currently underway including the reduction of approximately two thirds of our staff," stated Nissim Mashiach, President and Chief Executive Officer of Macrocure.

Guidance

Given the Company's recently announced clinical trial results, previous financial guidance, updated as recently as the second quarter financial results reported on August 4, 2015, is withdrawn.

For earnings history and earnings-related data on Macrocure (MCUR) click here.

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