Adolor Corp. said it reduced its workforce by 45 employees, or 28 percent, to save about $12 million a year and shift resources away from early-stage research.
The Exton biopharmaceutical company will now focus on later-stage products, such as its constipation drug Entereg, which it began selling in mid-2008.
Adolor said it expects to record onetime expenses of up to $6 million related to severance for the laid-off employees, who worked in Exton, and changes to laboratory space it will no longer use.
The company posted a loss of $13.2 million in the first quarter this year compared with a los of $9.1 million in last year's first quarter.
"We've put in place some cost-containment to save ourselves $12 million," said Adolor's chief financial officer, Stephen Webster. He added that in the current economic environment with credit difficult to obtain, capital isn't available to life-sciences companies and so they have to contain their costs.