Al­lakos halves work­force, drops lead in­flam­ma­to­ry pro­gram

Cal­i­for­nia biotech Al­lakos said it would end de­vel­op­ment of its lead in­flam­ma­to­ry dis­ease pro­gram and lay off half of its work­force to save costs.

The biotech said it would stop all clin­i­cal, man­u­fac­tur­ing, re­search and oth­er func­tions re­lat­ed to lirente­limab, a mon­o­clon­al an­ti­body that has had mul­ti­ple mixed da­ta read­outs over the years, and ul­ti­mate­ly failed two more mid-stage tri­als, the com­pa­ny said Tues­day morn­ing.

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