Neuralstem to cut jobs in all divisions
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This reorganization is necessary to efficiently allocate our resources.
Neuralstem announced the implementation of a refocused clinical and corporate strategy in January 2016. The corporate reorganization includes a workforce reduction across all divisions that will result in significantly lower operating expenses while retaining the expertise needed to implement the company's refocused strategy.
"This reorganization is necessary to efficiently allocate our resources on the company's refocused strategy thereby creating value for all stakeholders," said Rich Daly, Neuralstem CEO.
"Taking these steps will enable us to continue to execute on our clinical development plan for NSI-189 while retaining our core proprietary stem cell technology.
"Additionally, I would like to express my gratitude to those members of our team affected by the action. Our entire team has worked with passion to develop therapeutic alternatives for people suffering with challenging CNS afflictions. We are proud of the work they have done to bring hope and answers to patients, their families and caregivers." ■