Layoffs
In a recent interview, Ron Cohen, chief executive officer of Acorda Therapeutics, indicated that if the company lost its appeals over patent lawsuits for its Ampyra for multiple sclerosis, there would not be layoffs in its sales force.
One month after Prothena Corporation shuttered its NEOD001 program for AL amyloidosis following a Phase IIb failure, the company initiated a reorganization that includes a workforce reduction of 57 percent.
The first Novartis executive has fallen in the wake of the $1.2 million payment to President Donald Trump’s attorney for consulting work.
Shares of San Diego-based aTyr Pharma are down nearly 20 percent this morning after the company announced a corporate restructuring plan that includes a 30 percent reduction of staff following failures of its preclinical ORCA program.
On April 16, Celldex Therapeutics reported that its Phase IIb trial of glembatumumab vedotin (glemba) failed in a trial of metastatic triple-negative breast cancer. Now the company has filed with the U.S. Securities and Exchange Commission (SEC) that it is cutting about 20 percent of staff.
Shares of Edge Therapeutics were in free fall Wednesday afternoon following the company’s decision to discontinue development of a late stage treatment for adults with aneurysmal subarachnoid hemorrhage (aSAH).
Achillion is handing out pink slips to 20 percent of its employees and initiating an operational restructuring plan.
The news was revealed in a filing with the SEC.
ImmunoGen gave a pipeline progress report and 2017 operating results last week.
PRESS RELEASES
