Aquinox discards lead drug, chops half of its staff in wake of PhIII disaster
When Aquinox conceded utter failure on its Phase III trial two weeks ago, execs were clear that there was nothing left to salvage. They are now concluding that more than half of the staff will have to go with the drug program.
The restructuring claims 30 employees, accounting for around 53% of Aquinox’s workforce. The Vancouver-based biotech will also close its office in San Bruno, CA while it searches for a drug candidate — most likely a SHIP1 activator — to replace rosiptor.
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