NeurogesX, Inc. to Cut Jobs
NeurogesX Inc. will cut nine jobs by the end of the year as it focuses clinical development on its main pain drug. The San Mateo pain treatment developer (OTC BB: NGSX) told employees about the move Thursday. Those workers will receive an undisclosed cash severance, contingent on them signing a general release with the company. NeurogesX said the move will result in a fourth-quarter charge of about $280,000. NeurogesX's main experimental drug, NGX-1998, is a topical liquid formulation to treat postherpetic neuralgia, or pain along a nerve that is associated with shingles.