<PAGE> 1
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) February 12, 1998
-----------------
Xenometrix, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-14004 #04-3166089
-------- ------- -----------
(State or other (Commission (I.R.S. Employer
jurisdiction of incorporation) File Number) Identification No.)
2425 North 55th Street, Suite 111
Boulder, CO 80301
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(Address of principal executive offices,
including zip code)
(303) 447-1773
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(Registrant's telephone number,
including area code)
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Item 5. Other Events
Xenometrix, Inc., (the "Company") restructured its operations resulting in the
elimination of twenty positions, effective February 3, 1998.
On February 3, 1998, the Company issued the attached press release, which is
included as Exhibit 99.2 to this Current Report and is incorporated by reference
herein.
Item 7. Exhibits
Exhibit
Number Description of Document
------- -----------------------
99.2 Press Release, dated February 3, 1998, announcing a
restructuring of the Registrant's operations.
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.
XENOMETRIX, INC.
By: /s/ Ronald L. Hendrick
Dated: February 2, 1998 Ronald L. Hendrick
Executive Vice President And
Chief Financial Officer
(Principal Financial and
Accounting Officer)
2
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EXHIBIT 99.2
XENOMETRIX LOGO NEWS
- -------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE Xenometrix, Inc.
- --------------------- 2425 North 55th Street
Boulder, CO 80301
Contact: Stephen J. Sullivan, President and CEO Telephone: (303) 447-1773
(303) 447-1773 ext. 149 Facsimile: (303) 447-1758
XENOMETRIX RESTRUCTURES OPERATIONS
BOULDER, CO - FEBRUARY 3, 1998 - Xenometrix, Inc. (OTC BB: XENO, Boston Stock
Exchange: XEN) announced today an immediate restructuring of operations
resulting in the elimination of twenty positions. "This move, while regrettable,
is necessary to conserve resources while the Company pursues financing
alternatives," said Steve Sullivan, President and CEO. "Despite this cutback, we
are maintaining our core scientific staff and resources. We will continue to
pursue all reasonable options for raising capital as well as evaluate other
strategic alternatives. However, at this point, the Company cannot provide
assurances in this regard. If additional capital is not forthcoming, we will
have to consider other options including suspension of the Company's
operations," said Sullivan.
Xenometrix is a biotechnology company with proprietary gene expression profiling
technology and genotoxicology technology used to help pharmaceutical, chemical
and biotechnology companies to accelerate the selection of the most promising
drug and chemical leads.
Except for the historical information contained herein, this release contains
forward-looking statements relating to future financial results or business
expectations. Business plans may change as circumstances warrant. Actual results
could differ materially as a result of risk-related factors over which the
company has no control. Such factors include, but are not limited to those
discussed in "Business", "Risk Factors," and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in the Company's Form
10-KSB filed with the Securities and Exchange Commission for the year ended June
30, 1997.
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