VALLEY COTTAGE, N.Y., Dec. 8 XTLBiopharmaceuticals Ltd. (Nasdaq: XTLB; TASE: XTL) announced today that it isrestructuring its operations following the failure of the Bicifadine Phase 2bclinical trial. The company is terminating the employment of 9 employees,representing 75% of its workforce. The remaining employees will beresponsible for seeking potential assets or a company to merge into XTL, orfor assisting in the liquidation and/or disposition of XTL's assets.
Some of the statements included in this press release, particularly thoseanticipating future business prospects, may be forward-looking statements thatinvolve a number of risks and uncertainties. For those statements, we claimthe protection of the safe harbor for forward-looking statements contained inthe Private Securities Litigation Reform Act of 1995. It is possible that wewill not be able to find a buyer for the assets or a merger partner. Anyforward-looking statements set forth in this press release speak only as ofthe date of this press release. We do not intend to update any of theseforward-looking statements to reflect events or circumstances that occur afterthe date hereof. This press release and prior releases are available athttp://www.xtlbio.com . The information in our website is not incorporated byreference into this press release and is included as an inactive textualreference only.
SOURCE XTL Biopharmaceuticals Ltd.