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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