Gemphire Therapeutics Announces Workforce Reduction
GEMPHIRE THERAPEUTICS INC COMMON (GEMP)
Last gemphire therapeutics inc common earnings: 5/9 04:02 pm
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US:NASDAQ Investor Relations:
ir.gemphire.com
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Source: GlobeNewswire
LIVONIA, Mich., Sept. 24, 2018 (GLOBE NEWSWIRE) -- Gemphire Therapeutics Inc. (NASDAQ: GEMP), a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic disorders, including dyslipidemia and nonalcoholic steatohepatitis (NASH), announces today that its Board of Directors has approved a workforce reduction in order to reduce costs and conserve cash resources. This decision was made in light of the previously announced request by the Food and Drug Administration (FDA) for additional pre-clinical data required in order to schedule an End of Phase 2 meeting for gemcabene in the Company’s target dyslipidemia indications. The workforce reduction includes five employees, which represent approximately 33% of the Company’s workforce, as of September 18, 2018. Two of the five employees include Jeffrey S. Mathiesen, the Company’s Chief Financial Officer, and Lee Golden, the Company’s Chief Medical Officer. Mr. Mathiesen and Dr. Golden
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