| 1 min read
Register for free to listen to this article
Listen with Speechify
0:00
1:00
GAITHERSBURG, Md.—As part of a larger review of its Genomics business, informatics specialist Gene Logics announced it would eliminate about 80 positions in the division in early October 2006. The remaining employees will support the existing products and services to ensure operations for current and future customers. Employees in Gene Logics Preclinical and Drug Repositioning Divisions will not be impacted by the move.
 
In June, Gene Logic announced the revenues of its Genomics Division in Q2 and full year 2006 were significantly than expected and that it was withdrawing issued financial guidance for 2006 and 2007. Furthermore, the division's senior VP and general manager resigned for personal reasons and to pursue other career opportunities.
 
The company projects the costs associated with severance and outplacement assistance will reach $1.5 million. At the same time, it believes the reduction in salary and benefits will save $8 million.

About the Author

Related Topics

Loading Next Article...
Loading Next Article...
Subscribe to Newsletter

Subscribe to our eNewsletters

Stay connected with all of the latest from Drug Discovery News.

Subscribe

Sponsored

Clear sample tubes are shown in a clear tote with red lids in a sample prep robot with a blue and silver industrial lab background.

The crucial role of sample preparation in biotherapy manufacturing

Discover how better sample preparation can unlock improved assay accuracy and analytical results.
A black mosquito is shown on pink human skin against a blurred green backdrop.

Discovering deeper insights into malaria research

Malaria continues to drive urgent research worldwide, with new therapies and tools emerging to combat the parasite’s complex lifecycle and global burden.
Three burgundy round and linear conformations of oligonucleotides are shown against a black background.

Accelerating RNA therapeutic testing with liver microphysiological platforms

Researchers can now study oligonucleotide delivery and efficacy in a system that models a real human liver.
Drug Discovery News March 2025 Issue
Latest IssueVolume 21 • Issue 1 • March 2025

March 2025

March 2025 Issue

Explore this issue