With a clinical trial failure, Halozyme to axe 55% of employees
San Diego-based Halozyme announced this morning that an experimental treatment for pancreatic cancer, the lead drug in the company’s pipeline, had failed in a clinical trial. As a result, Halozyme is discontinuing all of its studies of the drug and will refocus entirely on its already lucrative drug delivery technology.
The company will also be cutting 55% of its workforce — a decision that management believes will have the company profitable by the middle of next year, STAT’s Matthew Herper reports.
Drug delivery has proven to be a bread-and-butter business for many companies. And CEO Helen Torley says she sees a possible model of success in, of all companies, Myriad Genetics.
Read more.
The company will also be cutting 55% of its workforce — a decision that management believes will have the company profitable by the middle of next year, STAT’s Matthew Herper reports.
Drug delivery has proven to be a bread-and-butter business for many companies. And CEO Helen Torley says she sees a possible model of success in, of all companies, Myriad Genetics.
Read more.
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