Thursday, April 16, 2009
Layoffs: Cynosure
Press release:
Cynosure Announces Preliminary Financial Results for the First Quarter of 2009
WESTFORD, Mass., April 15, 2009
"We are continuing to adjust our operating expenses in response to the current market conditions and reduced revenue levels," [CEO Mike] Davin said. "In recent weeks we have cut an additional 25 positions from our worldwide workforce. This reduction has been partially offset by the opening in February of our direct sales office in Korea and the associated hiring of 11 employees, bringing our current total worldwide headcount to 271 employees.
Cynosure Announces Preliminary Financial Results for the First Quarter of 2009
WESTFORD, Mass., April 15, 2009
"We are continuing to adjust our operating expenses in response to the current market conditions and reduced revenue levels," [CEO Mike] Davin said. "In recent weeks we have cut an additional 25 positions from our worldwide workforce. This reduction has been partially offset by the opening in February of our direct sales office in Korea and the associated hiring of 11 employees, bringing our current total worldwide headcount to 271 employees.
Monday, April 6, 2009
R.I.P. Codon Devices
from PE Week Wire:
Codon Devices, a Cambridge, Mass.-based synthetic biology company, is shutting down after failing to raise new funding, according to The Boston Globe. The company had raised over $31 million from firms like Alloy Ventures, Flagship Ventures, Khosla Ventures, Highland Capital Partners, Tactics II Ventures and Kleiner Perkins Caufield & Byers. www.codondevices.com
Codon Devices, a Cambridge, Mass.-based synthetic biology company, is shutting down after failing to raise new funding, according to The Boston Globe. The company had raised over $31 million from firms like Alloy Ventures, Flagship Ventures, Khosla Ventures, Highland Capital Partners, Tactics II Ventures and Kleiner Perkins Caufield & Byers. www.codondevices.com
Wednesday, April 1, 2009
Layoffs: Pressure BioSciences
PRESS RELEASE
Pressure BioSciences, Inc. Reports 2008 Financial Results, Provides Business Update
SOUTH EASTON, Mass., Mar 31, 2009
Pressure BioSciences, Inc. (PBIO) ("PBI" and the "Company") today announced financial results for the fiscal year ended December 31, 2008 and provided a business update.
...
Joseph L. Damasio, Jr., Corporate Controller commented: "During the second half of 2008, we instituted a number of cost reduction measures, including a comprehensive restructuring program to significantly reduce expenditures, centralize core operations, and refocus our business strategy in specific areas where our products had already found market acceptance.
...
We expect that our operating costs and expenses will continue to decrease during the year, and that our resulting cash burn should be less than $600,000 per quarter, on average
...
Pressure BioSciences, Inc. Reports 2008 Financial Results, Provides Business Update
SOUTH EASTON, Mass., Mar 31, 2009
Pressure BioSciences, Inc. (PBIO) ("PBI" and the "Company") today announced financial results for the fiscal year ended December 31, 2008 and provided a business update.
...
Joseph L. Damasio, Jr., Corporate Controller commented: "During the second half of 2008, we instituted a number of cost reduction measures, including a comprehensive restructuring program to significantly reduce expenditures, centralize core operations, and refocus our business strategy in specific areas where our products had already found market acceptance.
...
We expect that our operating costs and expenses will continue to decrease during the year, and that our resulting cash burn should be less than $600,000 per quarter, on average
...
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