Applied Molecular Transport prepares to close up shop as it pauses R&D, replaces CEO, lays off 57%
Applied Molecular Transport is preparing to put up a “for sale” sign, less than a year after its last corporate reorg.
The California biotech said Monday that it would halt all R&D activities and hunt for “strategic alternatives.” In addition, CEO Tahir Mahmood left his position last Friday, a few days after the board laid off 35 employees across the company. COO Shawn Cross has been elevated to the CEO seat, according to SEC documents.
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