Vital Therapies (VTL) Plans 30% Headcount Reduction, Additional Cost Cuts
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Vital Therapies Announces Workforce and Cost Reduction Plans to Conserve Capital for a Possible New Clinical Trial
September 3, 2015 4:01 PM EDTSAN DIEGO, Sept. 3, 2015 (GLOBE NEWSWIRE) -- Vital Therapies, Inc. (Nasdaq: VTL), a biotherapeutic company developing ELAD®, a cell-based therapy targeting the treatment of liver failure, today announced a workforce reduction of approximately 30% and plans to institute across the board expense reductions to conserve capital. The Company expects to record personnel-related severance charges of $1.2 million, primarily in the quarter ending September 30, 2015.
"As we evaluate our next steps, it is necessary to conserve cash while we continue our analysis of the VTI-208 clinical trial data to possibly support the design and implementation of a... More
