Medindia
Medindia LOGIN REGISTER
Advertisement

XTL Biopharmaceuticals Implements Restructuring Plan

Tuesday, December 9, 2008 General News
Advertisement
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.
Advertisement

Cautionary Statement

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.
Sponsored Post and Backlink Submission


Latest Press Release on General News

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close