Novelion Therapeutics Announces Cost Reduction Plans and Capital Structure Review [Canadian Business Journal (Canada)]
NOVELION THERAPEUTICS INC COMMON SHARES (NVLN)
Last novelion therapeutics inc common shares earnings: 5/7 04:01 pm
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Source: Canadian Business Journal
Novelion Therapeutics Announces Cost Reduction Plans and Capital Structure Review VANCOUVER, British Columbia, Jan. 24, 2018 (GLOBE NEWSWIRE) — Novelion Therapeutics Inc. (NASDAQ: NVLN ), a biopharmaceutical company dedicated to developing new standards of care for individuals living with rare metabolic diseases, today announced significant cost reduction plans as it continues to manage its cash resources and the effects of the delay and uncertainty of the settlement of its Aegerion subsidiary with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Chairman of the Board of Directors Jason M. Aryeh said, “Unfortunately, our disappointing financial performance in 2017, current cash position, expectations for cash use in 2018, and the additional expenses, delays and uncertainty we’ve faced as part of the DOJ and SEC investigations of our Aegerion subsidiary, prompted difficult decisions regarding the use of our limite
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