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:11/30/2016)... 30, 2016 /PRNewswire/ - Portage Biotech Inc. ("Portage" or ... is excited to announce the formation of EyGen, ... preclinical ophthalmology assets through proof of concept. EyGen,s ... by Portage Pharmaceuticals Limited and being developed for ... and anterior segment diseases. This agent has the ...
(Date:11/30/2016)... Nov. 30, 2016  Tempus, a technology company ... and Penn,s Abramson Cancer Center have partnered to ... response to immunotherapy treatment based on next generation ... part of a research collaboration, Tempus will provide ... cancer patient data to Penn. Utilizing next-generation sequencing, ...
(Date:11/30/2016)... Mass. , Nov. 30, 2016   Merck ... that it has entered into a set of agreements ... services for Merck,s collection of genetic reagents such as ... with Evotec,s screening expertise offers an accelerated pathway to ... discovery starts with the identification of new targets, a ...
(Date:11/30/2016)... Research Triangle Park, North Carolina (PRWEB) , ... November 30, 2016 ... ... Chemistry (IUPAC) approved the names and symbols for four elements: nihonium (Nh), moscovium ... , Following a 5-month period of public review, the names earlier proposed by the ...
Breaking Biology Technology:
(Date:6/9/2016)... June 9, 2016  Perkotek an innovation leader in attendance control systems is proud ... work hours, for employers to make sure the right employees are actually signing in, ... ... ... ...
(Date:6/2/2016)... 2, 2016 The Department of Transport ... the 44 million US Dollar project, for the , ... including Personalization, Enrolment, and IT Infrastructure , to ... production and implementation of Identity Management Solutions. Numerous renowned international ... Decatur was selected for the most compliant ...
(Date:5/24/2016)... superior patient care by providing unparalleled technology to leaders of the medical imaging industry. ... recently added to the range of products distributed by Ampronix. Photo - ... ... ... ...
Breaking Biology News(10 mins):