Paul Bolno (Wave via Twitter)
A crashing Wave takes out the budget ax to chop staff, abandoning work on Duchenne MD in restructuring
Facing back-to-back setbacks in the clinic, Cambridge, MA-based Wave Life Sciences $WVE has brought out the budget ax to chop away at its cost base.
The US/Singapore hybrid — led by CEO Paul Bolno — filed word with the SEC of their plan to cut out 22% of its workforce, which a spokesperson for the biotech tells me amounts to 65 staffers. The pink slips started to make the rounds on February 6 and were expected to be completed on Monday the 10th.
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