Trimeris reveals strategic plan
US biopharmaceutical firm Trimeris has announced its strategic plan for 2008 that is designed to maximize cash flows from its anti-HIV drug Fuzeon (enfuvirtide) while also advancing TRI-1144 to a value-creating milestone.
The company plans to file an Investigational New Drug application for TRI-1144, its next-generation fusion inhibitor, as well as initiate and complete a single ascending dose Phase I clinical trial in the first half of the coming year.
In connection with the 2008 plan, Trimeris has immediately implemented a program to reduce its workforce. Following the completion of the Phase I SAD study for TRI-1144, the company expects that it will no longer staff any research or development functions. As a result, total operating expenses, excluding restructuring costs, are expected to be in the range of $10.0 million to $14.0 million in 2008, down from around $21.0 million to $23.0 million in 2007.
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