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news.Xcorporeal, a medical device company, has terminated 19 employees, or 73% of its staff, as part of its streamlining activities aimed at decreasing its operating expenses.
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The company has streamlined its operations through a series of initiatives designed to reduce annual expenses by approximately $3.5 million to a current operating burn rate of approximately $200,000 per month. It also intends to take additional actions to minimize or defer operating expenses.
Xcorporeal has also said that it is currently exploring various strategic alternatives, which may include the license of certain of the company’s intellectual property rights as a means to further develop its technologies, among other possible transactions.