Reeling from PhII flop, CytomX lays off 40% as execs go back to drawing board, seek new deals
Just days after putting a lead drug on the backburner in the wake of a Phase II flop, CytomX has settled on a makeover plan.
The South San Francisco biotech is laying off around 40% of its staffers as part of a revamp intended to prioritize internal work on its preclinical and early clinical pipeline — hitting hardest on the development and general and administrative teams. At the end of 2021, CytomX reported it had 174 full-time employees.
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.