UPDATE 1-Adolor to cut 28 pct jobs, sees charge in Q2

* To cut about 45 jobs

* To focus on late-stage, preclinical compounds

* Expects to end FY09 with $85 mln in cash, investments

June 3 (Reuters) - Biopharmaceutical company Adolor Corp (ADLR.O) said it was cutting about 45 jobs, or 28 percent of its workforce, and restructuring its discovery group to focus on late-stage, preclinical compounds to lower cash burn.

The company expects to record a cash restructuring charge of about $2.5 million in the second quarter mainly related to severance and related expenses.

It also expects a non-cash charge of up to $3.5 million associated with the write-off of certain leasehold improvements and fixed assets.

The company expects to end the fiscal 2009 with about $85 million in cash and investments.

Adolor said the restructuring did not include expense reductions related to Entereg, its drug for the treatment of a gastrointestinal problem that could result from bowel surgery.

Shares of Adolor closed at $2.26 Wednesday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Vinu Pilakkott)