BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Geron Corporation (GERN) Halts Stem Cell Work, Cuts 38% of Workforce


11/15/2011 6:30:50 AM

Geron Corp., the company that was conducting the first U.S.-authorized trial of human embryonic stem cells, is ending the program to focus on its cancer drugs. The Menlo Park company will eliminate 66 full-time jobs, or 38 percent of its workforce, and take a cash charge of $5 million in the fourth quarter and $3 million in the first half of 2012, Geron said in a statement Monday. "In the current environment of capital scarcity and uncertain economic conditions, we intend to focus our resources" on developing cancer drugs, John Scarlett, Geron's CEO, said in the statement. "By narrowing our focus to the oncology therapeutic area, we anticipate having sufficient financial resources to reach these important near-term value inflection points for shareholders without the necessity of raising additional capital."

Read at SF Gate
Read at BusinessWeek
Read at BBC News
Read at Financial Times
Read at Nature
Read at New York Times
Read at Washington Post

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES