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Biota Pharmaceuticals Inc Announces Results Of Strategic And Operational Review

Monday, 15 Apr 2013 07:00am EDT 

Biota Pharmaceuticals Inc announced that Board of Directors has adopted a revised corporate strategy following the recent completion of management's strategic and operational review of the organization and various development programs. The implementation of this strategy will shift the Company's primary focus from early-stage research to clinical-stage development programs that it could independently advance into late-stage development. Immediate actions will include rationalizing the Company's preclinical programs, a realignment of operations and resources, and a reduction in workforce. Key components of the Company's strategy include, but are not limited to Continuing to fully support and advance the development of laninamivir octanoate for the treatment of influenza A and B infections in the U.S. market under existing contract with the U.S. Office of Biomedical Advanced Research and Development Authority. The reduction in the Company's workforce will be implemented immediately, reducing the number of employees and contractors by approximately 30% over the next several quarters. The reduction will be concentrated on research and development functions dedicated to drug discovery, but other areas of the organization, including general and administrative positions, will be affected. 

Company Quote

24 Dec 2014