Layoffs
Conatus indicated that it is considering a sale of the company as part of an exploration of strategic alternatives. It is already implementing a restructuring plan that will cut 40% of staff and suspend development of its inflammasome compound CTS-2090.
The intention is to focus its research efforts on cancer, immunology, rare diseases and vaccines. The changes will result in the loss of 466 jobs in the two countries.
Hundreds lose their jobs as companies close facilities and shift business focuses.
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Merrimack said the company will preserve its cash runway in order to provide time for additional milestone payments from Ipsen.
Dynavax plans to step away from immuno-oncology development and will lay off 37% of its staff as a result.
Today has been marked by a wide range of life science and biopharma stories. Here’s a broader look at some of the top stories.
Merck & Co. filed with the U.S. Securities and Exchange Commission that it plans an extensive restructuring of its manufacturing and supply network. This will, it indicates, reduce its “global real estate footprint.”
The employees were terminated over allegations of industrial espionage on behalf of the Chinese government. MD Anderson ought to quell concerns of racial profiling following the firings.
Steps have been taken to safeguard the cancer center, including development of a cutting-edge approach to Enterprise Risk Management.
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