STUNG: Aduro CEO Stephen Isaacs reaches for the budget ax — again — on the heels of their latest setback with Novartis
A little less than a year ago, Aduro $ADRO CEO Stephen Isaacs started 2019 by whacking about a third of the staff. In what’s become an annual event now, he’s kicking off 2020 by eviscerating the remaining staff, laying off 51 staffers while cutting more than half the head count at the Bay Area biotech.
As SVB Leerink’s Daina Graybosch noted Thursday evening, the latest downsizing — which includes closing their sub in the Netherlands — comes after Novartis kicked loose their STING agonist ADU-S100.
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