NewLink axes 100 staffers, shrinks pipeline in wake of a PhIII debacle
A little more than two months after NewLink Genetics $NLNK was slammed by the Phase III failure of its pancreatic cancer vaccine algenpantucel-L, the Ames, Iowa-based company has slashed 100 staffers and cut some of its clinical work in a painful restructuring.
The cuts, announced ahead of the market opening Friday, will see off any HyperAcute Cellular Immunotherapy clinical trials that don’t include a checkpoint drug. The biotech is also shrinking its manufacturing operations as well as its facilities, emptying out of about half of its headquarters.
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