Myrexis (MYRX) says it is reorganizing, including an immediate reduction in the Company's workforce by 57 employees or approximately 41%. The reduction was primarily in the company's internal drug discovery group and related support functions. In addition, it will close its research services business.
It will record one-time severance costs of approximately $3 million, which will be recorded in FYQ3.
Earlier, shares were halted. They were last at $3.82.