An an­tibi­otics play­er ax­es staff in wake of PhI­II fail; Hori­zon to fund an­ti­body de­vel­op­ment, with op­tion to buy

A few weeks af­ter wav­ing a white flag of sur­ren­der on their late-stage study of a new an­tibi­ot­ic, Con­tra­Fect CEO Roger Pomer­antz has now brought out the axe to re­duce the cash burn.

Their Q2 re­port out to­day in­cludes a note on 16 lay­offs — a lit­tle more than a third of the head count. In­clud­ed in the de­par­tures is CMO Cara Cassi­no, who spent the last sev­en years at the biotech. She’ll be re­placed by Gar­rett Nichols, who’s com­ing in as in­ter­im CMO.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER