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Company restructures to support commercialization programs.
2004 MAR 3 - (NewsRx.com & NewsRx.net) -- GTC Biotherapeutics, Inc., (GTCB) is restructuring its organization to support its focus on clinical development and commercialization of its internal pipeline of proprietary products and its portfolio of external programs.
GTC's internal pipeline of products includes ATryn, recombinant human serum albumin, and the MSP-1 malaria vaccine.
Under the restructuring plan, GTC is reducing its headcount approximately 20% from 159 to 127 full-time equivalent employees. With the restructuring, GTC plans to use approximately $20 million of cash in 2004 as it participates in the regulatory review of ATryn and further develops its other commercial programs. A restructuring charge of approximately $950,000 will be recorded in the first quarter of 2004.
"The restructuring that we are announcing ... is designed to support our strategic position as a commercial products company and to support the regulatory review process for ATryn," stated Geoffrey F. Cox, PhD, GTC's chairman of the board and CEO. "In addition to conserving cash during the regulatory review process for ATryn, this restructuring provides us with the flexibility to consider the strategic option of adding a small sales force in Europe for commercialization in the hereditary antithrombin deficiency ...
- GTC Signs Agreement for $15 Million Convertible Debt Financing From LFB.
- Press release article from: Business Wire November 3, 2008 700+ words
...to Shareholder Approval FRAMINGHAM, Mass. -- GTC Biotherapeutics, Inc.'s ("GTC", Nasdaq: GTCB) signed an agreement with LFB...programs, for a $15 million financing in which GTC will issue convertible debt and warrants to purchase...
- GTC Biotherapeutics Enters Agreements with LFB for Funding of $12.3 Million...
- Press release article from: Business Wire June 18, 2009 700+ words
...Capital Term Loan Refinanced FRAMINGHAM, Mass. -- GTC Biotherapeutics, Inc. ("GTC", NASDAQ: GTCBD) has entered into agreements...Ulis, France) a current strategic shareholder in GTC, to provide a total of $12.3 million of cash...
- GTC Telecom Reaches Out to Consumers With Its Low-priced Long Distance;...
- Press release article from: PR Newswire November 10, 2000 700+ words
...Calif., Nov. 10 /PRNewswire/ -- GTC Telecom, Inc. (OTC Bulletin Board: GTCC...Eric Clemons, Chief Operating Officer for GTC Telecom commented, "While other large...consumers better value on long distance, GTC Telecom remains stronger than ever in its...
- GTC Shareholders Approve Proposals for $15 Million Convertible Debt Financing...
- Press release article from: Business Wire December 10, 2008 700+ words
FRAMINGHAM, Mass. -- Shareholders of GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) have approved three proposals...Biotechnologies for a $15 million financing in which GTC will issue convertible debt and warrants to purchase...
- GTC Biotherapeutics Announces One-for-Ten Reverse Stock Split.
- News wire article from: Business Wire May 26, 2009 700+ words
FRAMINGHAM, Mass. -- GTC Biotherapeutics, Inc. ("GTC", NASDAQ: GTCB) has filed Articles of Amendment to its...Commonwealth of Massachusetts to effect a reverse split of GTC's common stock in the ratio of one-for-ten. The reverse...
- GTC Biotherapeutics Provides Update on Agreement With LEO Pharma A/S.
- Press release article from: Business Wire March 13, 2009 700+ words
FRAMINGHAM, Mass. -- GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) has notified LEO Pharma A/S that GTC is terminating their contract for commercialization and development of ATryn([R]), GTC's recombinant form of human antithrombin...
- GTC Biotherapeutics Receives Notice Related to Nasdaq Minimum Closing Bid Price...
- Press release article from: Business Wire January 18, 2008 700+ words
FRAMINGHAM, Mass. -- GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) announced today that on January 17, 2008...notification letter has no effect at this time on the listing of GTC's common stock on the Nasdaq Global Market. GTC's common...
- GTC Telecom Reaches Out to Consumers With its Low-Priced Long Distance;...
- Press release article from: Business Wire November 9, 2000 700+ words
...BUSINESS WIRE)--Nov. 9, 2000 GTC Telecom, Inc. (OTCBB:GTCC) today announced...Eric Clemons, Chief Operating Officer for GTC Telecom commented, "While other large...consumers better value on long distance, GTC Telecom remains stronger than ever in its...
Source: HighBeam Research, Company restructures to support commercialization programs.