- Novelion Therapeutics (NVLN) announces the next phase of operational improvements, following the January announcement of its initial cost reduction initiative.
- The current phase of improvements reflects significant cost reduction efforts, including a number of structural changes, facilitating achievement of the Company’s cash flow positive goal.
- The Company has reduced its global workforce by ~36%. Novelion estimates that the headcount reduction and other cost control measures will reduce its 2018 and 2019 operating expenses by ~$20M and ~$35M, respectively.