Abandoned in PhIII, Onconova sacrifices more staffers to its survival strategy
Last spring, before Baxalta merged with Shire, the biotech opted to ax its 2012 partnership with Onconova Therapeutics $ONTX on the late-stage blood cancer drug rigosertib, with a formal closeout scheduled on Tuesday that officially ended its 50/50 split on the costs of a Phase III study that launched near the end of 2015. And Onconova marked the occasion by axing six staffers — 21% of its core group — as the executive crew continued to navigate a go-it-alone strategy through Phase III.
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