Democratic Underground - Maxim Pharmaceuticals to cut 50% of staff, CFO to leave

Reply #40: Maxim Pharmaceuticals to cut 50% of staff, CFO to leave [View All]

UpInArms

(1000+ posts) Send PM | Profile | Ignore

Mon Oct-18-04 12:04 PM
Response to Reply #5

40. Maxim Pharmaceuticals to cut 50% of staff, CFO to leave

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38278.5390162037-823948314&siteID=mktw&scid=0&doctype=806&

SAN FRANCISCO (CBS.MW) -- Maxim Pharmaceuticals (MAXM) said Monday that it is implementing a new restructuring plan that includes cutting 50 percent of its workforce, citing the need to finance the regulatory approval process of its leukemia drug Ceplene. The company's Chief Financial Officer Anthony Altig and its Chief Scientific Officer Kurt Gehlsen will be leaving the company as part of the staff cuts. John Prunty, the company's treasurer and controller, has been promoted to chief financial officer. CEO Larry Stambaugh has agreed to take a pay cut this year as part of the plan, the company said.

this one has a weird flavor to it :eyes:

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Reply #40: Maxim Pharmaceuticals to cut 50% of staff, CFO to leave [View All]