Permanent Headcount Down to Nil at Antisoma Inc.
Published: May 24, 2011
In an interim statement, chairman Grahame Cook has been reflecting on the firm's future following the failure in Phase III of AS1413 (amonafide) in secondary acute myeloid leukaemia. Development of the drug was discontinued in February and at the time the company said it was seeking a transaction to maximise value from its remaining product assets and cash resources.
Mr Cook noted that Antisoma held cash and equivalents of £15.0 million at the end of March. It has scaled back operations to the point where "permanent headcount has now been reduced to nil and the board has been cut to five members".