Ma­gen­ta feels the biotech blues, an­nounces lay­offs and clin­i­cal tri­al cuts

Ma­gen­ta Ther­a­peu­tics is fol­low­ing the flood of biotech lay­offs, an­nounc­ing to­day that it is cut­ting its work­force by 14% be­fore da­ta from the com­pa­ny’s Phase I/II tri­al for a tar­get­ed con­di­tion­ing ther­a­py are re­leased lat­er this year.

The biotech will al­so be paus­ing a planned clin­i­cal tri­al in healthy pa­tients to de­ter­mine dos­ing for lead can­di­date MG­TA-145, a pre-con­di­tion­ing trans­plant ther­a­py meant to mo­bi­lize stem cells for col­lec­tion, among oth­er “MG­TA-145 in­vest­ments,” the an­nounce­ment said.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER