Enzymatics Inc. announced Tuesday that it will reduce its workforce of 38 employees by approximately one-half. S. WayneKay, the Horsham, Pa., companyUs president, will be amongthose leaving.
The cuts are being made "to conserve resources in light of thecompany's inability to attract financing to maintain its presentlevel of activity," Enzymatics said.
For the nine months ended September 30, 1993, the companyreported a net loss of $4.7 million compared with a loss of $4.5million in the same period in 1992. Its current products aretwo tests for alcohol levels in saliva. The company is alsodeveloping a line of whole blood lipid tests to measure totalcholesterol, HDL cholesterol, triglycerides, and total cholesterol-HDL ratio.
Enzymatics' stock (NASDAQ:ENZY) closed at 47 cents a share onTuesday, down nine cents. -- Karl Thiel
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