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Balance Sheet Cash Flow Statement Kiryat Weizmann, Science Park, Bldg. 3 Rehovot 76100, Israel Tel. +972-8-932-4444 Fax +972-8-930-4445 |
Type: Public
On the web:
http://www.xtlbio.com
Employees:
5
Employee growth: (70.6%)
XTL Biopharmaceuticals is falling short of its goal to extend health. The biopharmaceutical company aims to develop products to treat infectious diseases, such as hepatitis B and C. The company announced major restructuring initiatives after its lead candidates Bicifadine, a diabetic neuropathic pain treatment licensed from DOV Pharmaceutical, failed in Phase 2 clinical trials. XTL had already licensed its chronic hepatitis C treatment program to Presidio Pharmaceuticals. XTL laid off 75% of its workforce and began exploring strategic alternatives in 2008; it has agreed to purchase rights to a blood cancer treatment from biotech Bio-GAL, which will in return acquire a substantial stake in XTL.
Key numbers for fiscal year ending December, 2008:
Sales: $5.9M
One year growth: 554.9%
Net income: ($9.2)M
Officers:
Chairman: Michael S. Weiss
CEO and Director: David Grossman
Director Finance: Bill Kessler
Competitors:
Cypress Bioscience
Pfizer
Wyeth Pharmaceuticals
