RaQualia infectious, neurology, gastrointestinal news

RaQualia said it will reduce headcount by about 12 (14%) to 70 in 2013 to focus on four compounds in early stage development for gastrointestinal diseases. The cuts include the elimination of nine R&D-related positions. RaQualia said it also will replace its president, Naoki Tani, but could not be reached for details. Tani is also CEO. The company expects to reduce business expenses to ¥2.1 billion ($26.1 million) in 2013, compared with the estimated ¥2.8 billion ($35.9 million) for 2012.

RaQualia announced the restructuring after reporting 3Q12 financial results along with 2012 revenue guidance of ¥100 million ($1.3 million). Previously, it expected full year revenue of ¥100-¥600 million ($1.3-$7.6 million). ...