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SCLN > SEC Filings for SCLN > Form 8-K on 28-Oct-2009All Recent SEC Filings

Show all filings for SCICLONE PHARMACEUTICALS INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SCICLONE PHARMACEUTICALS INC


28-Oct-2009

Costs Associated with Exit or Disposal Activities, Financial Stateme


Item 2.05 Costs Associated with Exit or Disposal Activities

On October 28, 2009, SciClone Pharmaceuticals, Inc. (the "Company") implemented a reduction in its workforce of approximately 17% of its U.S.-based workforce, primarily in research and development. The restructuring follows the discontinuation of the Company's RP101 Phase 2 clinical trial and reflects the Company's focus on a cost-containing clinical development strategy and expense management. The Company expects to complete the restructuring in the fourth quarter of 2009.

The reduction in workforce is anticipated to result in a one-time severance-related charge of approximately $0.3 million, which includes severance payments and other expenses associated with the workforce reduction plan. The Company estimates that this will represent the total amount of the charge to be incurred in connection with the restructuring and that this amount will be in the form of cash expenditures. The severance-related charge and future cash payments that the Company expects to incur in connection with the restructuring is subject to a number of assumptions, and actual results may differ, perhaps materially. The Company may also incur other material charges not currently contemplated due to events that may occur as a result of, or associated with, its decision to restructure.



Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are filed herewith:

Exhibit 99.1 Press release dated October 28, 2009


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