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Prospector
Profile
118-05
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| NitroMed, Inc. |
NAICS |
541711 |
| 45 Hayden Avenue, Suite 3000
Lexington, MA 02421 |
Description |
Biotechnology R&D |
| (781) 266-4000 |
Employees |
50 |
| http://www.nitromed.com/index.asp |
Revenue |
(mil) |
12.0860 |
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Income |
(mil) |
-71.3370 |
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Assets |
(mil) |
48.7050 |
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Liability |
(mil) |
19.6260 |
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(for the year ended 2006-12-31) |
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Category:
Miscellaneous
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Event:
NitroMed Inc. has implemented a restructuring plan that will eliminate approximately 70 positions over the next month, reducing headcount from approximately 90 to 20. The company anticipates that headcount may be further reduced over the next several months. The company is discontinuing its sales and promotional activities for BiDil, although the company intends to keep BiDil available and on the market for patients. The company estimates that it will record restructuring charges in a range of approximately $2.5 million to $3.0 million in the first quarter of 2008. The company has engaged an investment banking firm, Cowen and
Company, to advise on strategic alternatives.
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Intellectual Property:
As of December 31, 2006, the Company has 87 issued U.S. patents and 53 pending U.S. patent applications. It also has 79 issued patents and 163 pending patent applications in certain major industrial countries, including Canada, the major European market countries, Australia and Japan. Specifically, the Company has 3 U.S. patents which relate to co-administration of the components of BiDil. It also has 7 U.S. patents which cover the coating of medical devices with nitric oxide compounds, prevention of adverse effects associated with the use of a medical device, treatment of a damaged vessel or treatment of a damaged vascular surface in a patient by administration of a nitric oxide compound. The Company has 4 issued and 9 pending U.S. patent applications, which disclose and claim novel nitric oxide-enhancing COX-2 inhibitors. It has 9 pending U.S. patent applications and 5 pending PCT patent applications, which disclose and claim novel nitric oxide-enhancing cardiovascular compounds. It also has a U.S. patent and a pending U.S. patent application, which disclose the methods of use of N-hydroxyguanidine compounds in the treatment of renal failure. [SEC Filing 10-K 03-08-07]
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Description:
NitroMed engages in nitric oxide-based drug development.
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Officers:
Kenneth M. Bate (Pres., CEO & Dir.); James G. Ham, III (VP, CFO, Sec. & Treas.); Robert S. Cohen (Dir.); Frank L. Douglas (Dir.); Zola Horovitz (Dir.); Argeris Karabelas (Dir.); Mark Leschly (Dir.); John W. Littlechild (Dir.); Joseph Loscalzo (Dir.); Davey S. Scoon (Dir.); Christoper J. Sobecki (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock-Symbol NTMD; Nasdaq;
45,773,801 common shares outstanding as of October 29, 2007.
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