June 2 Mon Jun 2, 2014 6:22am EDT
June 2 (Reuters) - Biota Pharmaceuticals Inc said it plans to cut its workforce by about two-thirds and shut down its Melbourne, Australia, facility, following the loss of a key government contract.
The company's contract with the Department of Health and Human Services was supporting the development of its experimental influenza treatment.
Biota said it would incur related charges of about $5 million-$5.5 million. The company had 89 employees as of June 30, 2013. (Reporting by Natalie Grover in Bangalore)
June 2 (Reuters) - Biota Pharmaceuticals Inc said it plans to cut its workforce by about two-thirds and shut down its Melbourne, Australia, facility, following the loss of a key government contract.
The company's contract with the Department of Health and Human Services was supporting the development of its experimental influenza treatment.
Biota said it would incur related charges of about $5 million-$5.5 million. The company had 89 employees as of June 30, 2013. (Reporting by Natalie Grover in Bangalore)
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