Westaim Corp reviews flagging business strategy

Guest Contributor
May 15, 2007

Westaim Corp is moving to revive its sagging fortunes with a review of its business strategy and the sale of real estate holdings in Fort Saskatchewan for a book gain of $7.5 million. The moves come as the Calgary-based firm is in danger of losing its NASDAQ listing if its stock price remains below $1 beyond October 8/07. Westaim has experienced poor results at its two subsidiaries. iFire Technology has experienced more delays in its flat panel television technology, while NUCRYST Pharmaceuticals Corp received disappointing results from Phase II clinical trials for treatment of atopic dermatitis. For the first quarter ended March 31/07, it recorded a net loss of $6.7 million, on revenue of $6.1 million....

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