Northstar, Conserving Cash, Will Have $66M in Cash at Year-End

Xconomy Seattle — 

Northstar Neuroscience, a Seattle-based maker of a brain-stimulation device for severe depression, said today it had $70.2 million in cash and investments at the end of September, and that it expects to end this year with $66 million on hand, and close 2009 with $53 million. The company (NASDAQ: NSTR) has cut costs and switched its priorities to studying depression, after a final-stage clinical trial failed to demonstrate its device could help restore arm movement in stroke patients.