Layoffs
Calithera Biosciences reported that its CANTATA clinical trial of telaglenastat in patients with advanced or metastatic renal cell carcinoma (RCC) failed to hit the primary endpoint.
Mergers and acquisitions are a well-known fact in the life sciences industry, and anyone working within the sector knows to expect them at any time.
Shares of Endo International are up more than 5% after the company announced positive earnings Thursday and also announced a new restructuring plan.
Santhera said the restructuring will allow the company to focus on the development of vamorolone, a first-in-class dissociative steroid with a novel mode of action that it gained the rights to from ReveraGen BioPharma.
Thursday afternoon, Bellicum announced it will pause the development of its BCMA GoCAR-NK program and will also discontinue discovery research and new product development.
Funds will also be utilized to enhance Corbus’ pipeline of novel endocannabinoid system-targeting drug candidates, and the company’s workforce will be reduced by up to 54%.
As part of its half-year 2020 financial report, the company announced significant restructuring that will include cutting 40% of its staff.
In addition to cutting staff, findings from the IW-3718-302 Phase III trial has caused the GI-focused healthcare company to discontinue development of IW-3718 and halt enrollment of its second Phase III trial, IW-3718-301.
UNITY Biotechnology launched a restructuring program to focus on cellular senescence in ophthalmology and neurology. As part of the plan, it is decreasing its workforce by about 30% to optimize capital.
In an 8-K filing with the U.S. Securities and Exchange Commission, Intercept Pharmaceuticals said it will eliminate approximately 170 employees as part of an effort to streamline the company’s operations and reduce operating expenses.
PRESS RELEASES
