“Given the continued challenges faced in the capital markets, we believe it is in the best interests of the shareholders to consider strategic options,” said Gregory D. Casciaro, XTENT’s president and chief executive officer. “We remain confident in the benefits of customizable stenting and are assessing all viable options available to us in order to maximize the value of our assets. Effective immediately, we are executing plans to reduce activities and costs to a critical minimum, including a significant reduction in headcount in order to preserve cash and flexibility.”
