Cortex Pharmaceuticals Inc. is cutting about half its staff, slashing executive salaries and putting some research projects on the back burner, all in an effort to stay afloat in the troubled economy. (BioWorld Today)

Proteon Therapeutics Inc. is banking on its lead product to clear a crucial Phase II study, the results of which could seal a $550 million deal with Novartis AG. (BioWorld Today)