Kosan Biosciences to cut 37 pct of workforce

March 18 (Reuters) - Biotech company Kosan Biosciences Inc KOSN.O said it will cut its workforce by 37 percent to focus resources on its lead clinical programs.

Kosan, which has about 90 employees, expects restructuring charges of about $700,000 in the first quarter and said the restructuring will result in most research programs being placed on hold.

The company also cut its 2008 estimate for cash used in operating activities to $37 to $47 million from $40 to $50 million. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Pratish Narayanan)