01 December 2011
Nicox S.A. (NYSE Euronext Paris: COX) today provides an update on its activities, including a continuing reorganization of its operations aimed at streamlining the organisation and ensuring the best use of existing cash resources.
In order to align Nicox’s structure with the corporate strategy, the Company is implementing a planned reduction of its workforce by approximately one third and is focusing its resources on its objective of creating a commercially-focused development organization.
Following a detailed evaluation process, the Company has initiated a number of discussions with potential targets as part of its overall objective of becoming a commercial organization.
Supported by the Board of Directors and external advisors, Nicox is targeting late-stage or marketed products in specialist areas which have been identified as having growth potential.