Biotransplant(BTRN) Message Board

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Biotech / Medical : Biotransplant(BTRN)

BTRN 35.57

-0.8%

Nov 3 4:00 PM EST

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To: tuck who wrote (1314)	6/12/2002 9:01:11 PM
From: smh	Read Replies (2) of 1475

>>CHARLESTOWN, Mass.--(BUSINESS WIRE)--May 8, 2002--BioTransplant (Nasdaq: BTRN - news) today announced a cost reduction program in order to advance the Company's product lines while streamlining operations and reducing overall costs. This program includes a reduction in workforce and spending cuts impacting all segments of the Company. "These cost reduction measures are expected to conserve the needed resources to continue developing BioTransplant's promising product lines," commented Dr. Elliot Lebowitz, CEO of BioTransplant. With these spending adjustments, BioTransplant expects to have operating capital for approximately three to four fiscal quarters. << That was just one month ago. What was the point? I assumed he was trying to buy time - waiting for a better opportunity - presumably following some overdue good news. Does this mean there will be no good news? I don't see how the timing of the last two stock giveaways could possibly have been worse. Disgusted

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