Up­dat­ed: Af­ter a tor­tured run with a weak PARP play­er and cash fast run­ning out, Clo­vis sig­nals like­ly bank­rupt­cy, slash­es 115 staffers

Clo­vis On­col­o­gy’s rocky 13-year run from start­up de­vel­op­er to com­mer­cial­iza­tion — while sur­viv­ing ac­cu­sa­tions of play­ing fast and loose with the da­ta — may be com­ing to a close. The biotech, helmed by founder and CEO Patrick Ma­haffy, to­day ex­plained in its quar­ter­ly re­port that it is on course to run out of cash in a mat­ter of weeks and may have no al­ter­na­tive but to file for bank­rupt­cy.

In the SEC fil­ing, Clo­vis al­so re­vealed that the com­pa­ny laid off 115 staffers on No­vem­ber 7 as cash dwin­dled. That came just days af­ter the com­pa­ny skipped an in­ter­est pay­ment, ac­cord­ing to the fil­ing.

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