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Redwood City-based A.P. Pharma (NASDAQ:APPA) said the actio n will includea one-time charges of $350,000. The company is focusin on advancing itslead program, towards regulatory approval and commercialization. A New Drug Application for APF530 was submitted earlier this monthh for the preventionof chemotherapy-induced nausea and "A.P. Pharma’s recent NDA submission for APF530 was the resulrt of the dedication of ourentirew team, making this reduction in our work forcw even more difficult,” said CEO Ronalfd J. Prentki.
“Considering the continuing challengesof today’s economic it is necessary for us to make additional reductionds to our staff as we focusx the company’s resources on working towardss approval of APF530 in the first half of 2010. I want to exten d my thanks and gratitude to our departintg colleagues and wish them the very best in theirdfuture endeavors.” In April the companyy reported that it was warned by Nasdaa that it had fallen below the minimukm $10 million shareholder equity required for
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