Days af­ter dis­clos­ing tri­al flop, stem cell ther­a­py de­vel­op­er ax­es 70% of work­force while search­ing for cash

When Daniel Ca­mar­do host­ed his first quar­ter­ly in­vestor call as CEO of Ather­sys, the pic­ture he paint­ed was all rosy: He’s join­ing to “com­plete the de­vel­op­ment, ap­proval, launch and com­mer­cial­iza­tion” of the biotech’s stem cell ther­a­py. “With thought­ful and time­ly ex­e­cu­tion,” he said, Ather­sys “will be well-po­si­tioned to meet our long-term goals.”

But it looks like his tenure will first be de­fined by a very dif­fer­ent task.

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