Acusphere, the Watertown, MA-based developer of the cardiovascular contrast agent Imagify, said today it has cut 24 jobs, or about 24 percent of its staff. The company (NASDAQ: [[ticker:ACUS]]) is trying to save cash while it waits for the FDA’s Feb. 28 deadline to decide on whether to approve Imagify for sale in the U.S. The cuts should save $2.1 million a year, and help carry the company “well into the fourth quarter,” the company said in a statement. Acusphere had $12 million in cash and investments at the end of June, and expects to spend $8 to $9 million in the third and fourth quarter.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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