Xconomy | Seattle - Business + Technology in the Exponential Economy

Northstar, Conserving Cash, Will Have $66M in Cash at Year-End

Northstar Neuroscience, a Seattle-based maker of a brain-stimulation device for severe depression, said today it had $70.2 million in cash and investments at the end of September, and that it expects to end this year with $66 million on hand, and close 2009 with $53 million. The company (NASDAQ: NSTR) has cut costs and switched its priorities to studying depression, after a final-stage clinical trial failed to demonstrate its device could help restore arm movement in stroke patients.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can email him at ltimmerman@xconomy.com or call 206-624-2374.

Comments | Permalink |