Navigation Links
Nastech Pharmaceutical Company Implements Additional Workforce Reduction as Part of Previously Announced Corporate Restructuring
Date:2/12/2008

BOTHELL, Wash., Feb. 12 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK) announced today that its Board of Directors has approved a plan to further reduce operating expenses and align the company's workforce with its strategic, business and clinical development requirements.

"The workforce reduction of approximately 50 employees will enable us to drive our key clinical development and RNAi programs forward in a more efficient manner for the benefit of our shareholders," stated Steven C. Quay, M.D., Ph.D., Chairman and CEO of Nastech. "The savings by this action are estimated to be not less than $11 million during the 2008 fiscal year."

About Nastech

Nastech is a clinical stage biopharmaceutical company focusing on the development and commercialization of innovative therapeutic products based on its proprietary molecular biology-based drug delivery technologies and, through its wholly-owned subsidiary, MDRNA, Inc., based on its proprietary ribonucleic acid interference technology. Nastech and its collaboration partners are developing products for multiple therapeutic areas including osteoporosis, obesity, diabetes, autism, respiratory diseases and inflammatory conditions. Additional information about Nastech is available at http://www.nastech.com.

Nastech Forward-Looking Statements

Statements made in this press release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Nastech or a subsidiary to obtain additional funding; (ii) the ability of Nastech or a subsidiary to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of Nastech, a subsidiary and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of Nastech, a subsidiary and/or a partner to obtain required governmental approvals; and (v) the ability of Nastech, a subsidiary and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Nastech's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Nastech assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Contacts:

Nastech

Matthew Haines

Senior Director, Investor Relations and Corporate Communications

(212) 209-3874

ir@nastech.com

Russo Partners, LLC

David Schull (Media)

(212) 845-4271


'/>"/>
SOURCE Nastech Pharmaceutical Company Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Nastech Announces Promotion of Gordon Brandt, M.D. to President
2. Nastech Assigns Intellectual Property Related to the Development of RNA-Based Therapeutics to its Subsidiary, MDRNA, Inc.
3. Nastech Enters Into Feasibility Study to Develop a Non-Injectable Dosage Form of Factor IX to Control Bleeding
4. Nastech to Present at BMO Capital Markets Focus on Healthcare Conference
5. Nastech to Present at Acumen BioFin Rodman & Renshaw Healthcare Conference
6. Nastech Announces Third Quarter 2007 Financial Results
7. Nastech to Release Third Quarter Financial Results and Host Webcast on Monday, October 29, 2007
8. Nastech to Host 2007 Analyst and Institutional Investor Day
9. Peregrine Pharmaceuticals Doses First Patient in Phase II Clinical Trial of Bavituximab in Patients With Advanced Breast Cancer
10. Pharmaceutical Budget and Staffing: Powerful New Metrics-Based Study
11. Tianyin Pharmaceutical, Inc. to Host 2008 Second Quarter Earnings Conference Call on Thursday, February 14, 2008 at 4:15 p.m. EST
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/26/2017)... Pa. , April 26, 2017  Genisphere ... delivery platform, has signed a collaborative and sponsored ... Dr. Silvia Muro . The overall goal ... and pharmacodynamics of various 3DNA designs and formulations ... involve targeting diseases of the vasculature as well ...
(Date:4/25/2017)... CA (PRWEB) , ... April 25, 2017 , ... ... of L3 Healthcare, is pleased to announce the company is now a certified ... The iMedNet software certification enables the company’s clinical research team to build, ...
(Date:4/25/2017)... Gatos, California (PRWEB) , ... April 25, 2017 ... ... business, Analytical Services and Metrology Partners.     , Covalent’s Analytical Services unit ... Most samples can be measured within 24 hours of receipt. There are no ...
(Date:4/24/2017)... 2017  Dante Labs announced today the offer of whole ... $900). While American individuals have been able to access WGS ... access WGS below EUR 1,000. The sequencing includes ... information to make informed decisions about disease monitoring, prevention, nutrition, ... ...
Breaking Biology Technology:
(Date:3/28/2017)... -- The report "Video Surveillance Market by ... Devices), Software (Video Analytics, VMS), and Service (VSaaS, Installation ... 2022", published by MarketsandMarkets, the market was valued at ... reach USD 75.64 Billion by 2022, at a CAGR ... considered for the study is 2016 and the forecast ...
(Date:3/24/2017)... Research and Markets has announced the addition of the ... Industry Forecast to 2025" report to their offering. ... The Global Biometric Vehicle Access ... 15.1% over the next decade to reach approximately $1,580 million by ... and forecasts for all the given segments on global as well ...
(Date:3/22/2017)... VILNIUS, Lithuania , March 21, 2017 /PRNewswire/ ... identification and object recognition technologies, today announced the ... development kit (SDK), which provides improved facial recognition ... safety cameras on a single computer. The new ... algorithms to improve accuracy, and it utilizes a ...
Breaking Biology News(10 mins):