NeurogesX, Inc. (NGSX) to Cut Jobs
12/3/2012 9:19:51 AM
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.