NeoPharm
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NeoPharm has multiple drug candidates in various points of clinical development, including a LEP-ETU Phase II trial for breast and ovarian cancer, a LE-DT Phase I trial, also for various forms of cancer and Cintredekin Besudotox preclinical studies for untreatable brain diseases in humans. 

The company's robust pipeline has additional indications for Cintredekin Besudotox for idiopathic pulmonary fibrosis, and its product initiatives are funded and progressing as planned.

NeoPharm's clinical trials have been structured to capitalize on broader indications of cancer. With a reorganization strategy originally announced in April 2007, NeoPharm has achieved significant cost-savings and put into place an optimal cost structure which enables the company to focus primarily on the development of drug candidates. The company has significantly reduced its cash consumption rate and has resources available to fund current candidates in development into the second quarter of 2010.

Key initiatives completed as part of this reorganization include:

  • Annualized cash consumption levels reduced to approximately $5 million 

  • Cost structure realigned to optimize the progress of several drug candidates to next strategic event

  • Streamlined organization to include a core team of technical employees to support development activities and ensure regulatory compliance for all drug candidates

  • Formed a new management team with relevant experience and expertise, including Dr. Aquilur Rahman, NeoPharm's co-founder and Chief Scientific Advisor

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    With a reorganization strategy originally announced in April 2007, NeoPharm has achieved significant cost-savings and put into place an optimal cost structure which enables the Company to focus primarily on the development of drug candidates.