Aclaris halves headcount, banks on next mid-stage readout after clinical setbacks tanked shares
A month after revealing that its lead candidate had hit a dead end in inflammatory diseases, Aclaris Therapeutics will cut just under half of its workforce to save cash while waiting for its new development plans to bear fruit.
About 46% of its employees will be laid off over the next six months, Aclaris said in a Tuesday update. The biotech had 105 employees as of December 31, 2022, and per a new filing, the layoffs are expected to incur about $5 million to $5.3 million in costs.
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