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    Wednesday, February 13, 2008

    Nastech Cuts 50


    Nastech Pharmaceutical Co. Inc. announced Tuesday that its board of directors has approved of a cost-saving measure that will result in the layoffs of 50 employees. Dr. Steven C. Quay, Nastech's chairman and CEO, said the firings would save the company aroudn $11 million during the 2008 fiscal year. This money, he added, will go toward clinical development and toward Nastech's ribonucleic acid-interference, or RNAi, programs. Headquartered in Bothell, Wash., Nastech develops therapeutic products based on its proprietary molecular biology drug delivery systems. Nastech's wholly owned subsidiary, MDRNA Inc., develops RNAi-based therapeutics.
    posted on Wednesday, February 13, 2008


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