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Neurogen to focus on clinical trials(New Haven Register (New Haven, CT) (KRT) Via Thomson Dialog NewsEdge) Feb. 9--BRANFORD -- Two days after announcing it is cutting its work force in half to focus more resources on clinical trials, Neurogen Corp. on Friday outlined its drug development strategy for the coming year. President and CEO Stephen R. Davis said the biotechnology company will focus on several areas of drug development this year, in an effort to further examine the clinical and commercial potential of its most promising treatments. The company will begin its latest clinical studies by midyear, and expects results to be available about the end of the year, according to Davis. Among its research and development efforts, Neurogen will pursue five clinical programs to address insomnia, restless legs syndrome, Parkinson's disease and schizophrenia. This year, the company aims to expand a clinical program into anxiety disorders; further advance adipiplon, its insomnia drug; continue studying its drug aplindore as a treatment for Parkinson's disease and restless legs syndrome; and expand clinical programs into the study of schizophrenia. On Wednesday, Neurogen announced plans to eliminate 70 positions, which is about half its work force. Company officials said the move, which will leave about 75 workers at Neurogen, is intended to focus more resources on clinical programs. A company spokeswoman said most of the eliminated jobs are in the research and chemistry fields, meaning the service they provide precedes any clinical trials. The job cuts were to begin within a few days. Nuerogen is based at 35 N.E. Industrial Road. The company's stock closed Friday at $1.56 a share, down 8 cents. To see more of New Haven Register, or to subscribe to the newspaper, go to http://www.nhregister.com. Copyright (c) 2008, New Haven Register, Conn. Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |