Recro Pharma Restructures Acute Care Segment While Continuing To Execute on Strong CDMO Segment Performance
Recro Pharma, Inc. (REPH)
Last recro pharma, inc. earnings: 11/8 07:00 am
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Source: GlobeNewswire
Implements Plan to Reduce Acute Care Segment Staff CDMO Segment Continues Strong Performance; Company Increases Revenue, Operating Income and EBITDA, as Adjusted* Guidance for 2019 Expects to Become Cash Flow Breakeven During Q3; Cash Flow Positive Second Half of 2019 Plans to Seek Strategic Partner for Commercialization of IV Meloxicam MALVERN, Pa., April 03, 2019 (GLOBE NEWSWIRE) -- Recro Pharma, Inc. (Nasdaq:REPH), a revenue generating specialty pharmaceutical company with a high-performing contract development and manufacturing (CDMO) Segment, today announced an initiative that will reduce the operating expenses of its Acute Care Segment, including a reduction in staff of approximately 50 employees. Some Acute Care Segment employees engaged in efforts to select a partner for and in obtaining FDA approval of (IV) meloxicam were retained. This initiative is expected to significantly lower operating expenses following receipt of a second Complete Response Letter (CRL) from the
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