Cardiome Pharma Corp. (CRME,COM.TO) said it is undertaking a significant workforce reduction, following the recently announced termination of Merck's development efforts relating to the vernakalant oral program. The workforce reduction eliminates all positions focused on internal research activities along with certain supporting functions. The personnel reduction would decrease the total number of employees by some 85%.
The company is likely to incur up to $5.0 million in severance and other charges related to this restructuring over the remainder of the year.
Previously, Cardiome Pharma had announced that one of Hunter's first tasks as interim CEO would be to review all current activities of the company with the immediate objective of optimizing the spend rate. Today's announcement reflects completion of this objective.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.