In Brief: Neoprobe
This article was originally published in The Gray Sheet
Reduces workforce by 20% and intends to reduce operating expenditures in 1998 by approximately 30% as part of a "strategic assessment and restructuring" announced Feb. 18. The Dublin, Ohio firm plans to refocus resources on its three key business goals: commercializing its RIGScan CR49 system for surgical detection of metastatic colorectal cancer; maximizing instrument sales for gamma guided surgery applications and developing activated cellular therapy products for cancer and viral diseases. The company, which anticipates an operating loss of about $12 mil. in fiscal 1998, hopes "to move the company toward profitability" in fiscal 1999. As part of the restructuring, David Bupp, president and chief operating officer, gains the title of CEO from John Ridihalgh, who remains chairman...
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