March 17, 2009 (FinancialWire) -- Xcorporeal, Inc. (AMEX: XCR) (Current Market Cap: US$2.24 Mil.) that has terminated 19 employees, or 73% of its staff, as a result of general economic conditions and a deterioration in its liquidity position.

The job cuts, and other moves to streamline operations, are designed to reduce annual expenses by around $3.5 million to a current operating burn rate of around $200,000 per month, according to the company.

Xcorporeal said that the decrease in operating expenses will primarily come from the reduction in personnel. In addition to the job cuts, the company said it intends to take additional actions to minimize or defer operating expenses.

The company also said that it is currently exploring various strategic alternatives, which may include the license of certain of the company's intellectual property rights as a means to further develop its technologies, among other possible transactions.

Los Angeles-based Xcorporeal is a medical device company developing an extra-corporeal platform technology to be used in devices to replace the function of various human organs. According to the company, platform leads to three initial products: a portable artificial kidney for hospital based renal replacement therapy, the XCR-6 for home hemodialysis, and a wearable artificial kidney for continuous ambulatory hemodialysis.

For the hospital market, Xcorporeal is developing a portable, multi-functional renal replacement device for patients suffering from acute renal failure. The company said it has completed functional prototypes of subsystems, which are currently undergoing bench testing.

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