Sonus Pharmaceuticals Inc - Current report filing (8-K)
March 25 2008 - 8:31AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
March 19, 2008
SONUS PHARMACEUTICALS, INC.
(Exact name of
Registrant as Specified in Its Charter)
Delaware
|
|
000-21243
|
|
95-4343413
|
(State or other jurisdiction
|
|
(Commission
|
|
(IRS Employer
|
of incorporation)
|
|
File Number)
|
|
Identification No)
|
1522
217
th
Place S.E., Suite 100, Bothell,
Washington 98021
(Address of principal executive offices)
(425) 487-9500
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05 Costs
Associated With Exit or Disposal Activities.
On March 19, 2008, the Company announced
a reduction in workforce (the Reduction in Workforce) pursuant to which the
Companys workforce was reduced by approximately 37%, leaving the Company with 26
full-time and 4 part-time employees. The
effective date of the Reduction in Workforce is March 31, 2008. The Company undertook the Reduction in
Workforce in order to conserve cash and align its workforce with its
anticipated staffing needs.
In connection with the Reduction in
Workforce, the Company expects to incur expenses associated with one-time
termination benefits of approximately $1.0 million, including approximately
$0.9 million of severance expenses and $0.1 million attributable to the
continuation of medical insurance benefits.
It is currently anticipated that these expenses will be incurred in the
first quarter of 2008.
This
Current Report on Form 8-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, that are based upon
managements beliefs, as well as assumptions made by and information currently
available to management. All statements
other than statements of historical fact included in this Form 8-K, in
particular regarding the expected expenses related to the Reduction in
Workforce, constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but not limited
to, statements identified by the words expects, anticipates and similar
expressions. All forward looking
statements reflect the Companys expectations only as of the date of this
Current Report on Form 8-K and should not be relied upon as reflecting the
Companys views, expectations or beliefs at any date subsequent to this
date. The Company anticipates that
subsequent events and developments may cause these expectations to change. However, while the Company may elect to update
these forward-looking statements at some point in the future, it specifically
disclaims any obligation to do so.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
SONUS PHARMACEUTICALS, INC.
|
|
|
|
|
|
|
Date:
March 25, 2008
|
By:
|
/s/
Alan Fuhrman
|
|
|
Alan
Fuhrman
|
|
|
Senior
Vice President and Chief Financial Officer
|
3
Sonus (NASDAQ:SNUS)
Historical Stock Chart
From Apr 2024 to May 2024
Sonus (NASDAQ:SNUS)
Historical Stock Chart
From May 2023 to May 2024