May 29, 2009 (FinancialWire) — Specialty pharmaceutical firm A.P. Pharma, Inc. (NASDAQ: APPA) (Current Market Cap: US$27.58 Mil.) said it has implemented a reduction of its staff representing around 34% of its work force.

The company said that the actions are being taken to allow it to provide the resources needed to continue advancing its lead program, APF530, towards regulatory approval and commercialization.

APF530 is a long-acting formulation of granisetron that utilizes the company’s proprietary Biochronomer drug delivery system. The company submitted a New Drug Application for APF530 earlier this month for the prevention of chemotherapy-induced nausea and vomiting.

The company said it expects one-time costs associated with this headcount reduction to be around $350,000, which will be recorded in the second quarter of 2009. The headcount reduction included 11 employees and is a continuation of the organization’s commitment to cash preservation, initiated last fall.

Redwood City, California-based A.P. Pharma is a specialty pharmaceutical company whose primary focus is on its lead product candidate, APF530, which has completed a Phase 3 clinical trial for the prevention of CINV. An NDA for APF530 was submitted in May 2009.

The company has additional clinical- and preclinical-stage programs in the area of pain management, all of which utilize its bioerodible injectable and implantable delivery systems.

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