Regado Biosciences says evaluating strategic alternatives

(Reuters) - Regado Biosciences Inc said it is evaluating a broad range of strategic alternatives, a month after the company terminated enrollment in a late-stage trial of its lead drug. The company also said it would cut about 60 percent of its workforce, or 20 jobs, as it looks to conserve cash. Regado Biosciences said it would take a related charge of about $2 million in the third and fourth quarters. MTS Health Partners LP and Cowen and Co LLC have been retained as strategic advisers, the company said on Wednesday. Regado Biosciences said it expected cash balance of about $61 million at the end of third quarter ending Sept. 30. The company had cash and cash equivalents of $72.7 million at the end of June. The company halted the late-stage trial of its blood thinning drug, Revolixys or REG1, over safety concerns in August. Shares of Regado closed at $1.02 on the Nasdaq. They have dropped 64 percent since the clinical trial halt. (Reporting by Shailesh Kuber; Editing by Sriraj Kalluvila)