Arde­lyx brings out the ax, chop­ping 28% of staffers; PRA bags Sym­pho­ny Health So­lu­tions in $530M ac­qui­si­tion

→ A few months af­ter Arde­lyx $ARDX dis­ap­point­ed an­a­lysts with their lack­lus­ter Phase III da­ta on tena­panor, Fre­mont, CA-based com­pa­ny has trig­gered a re­struc­tur­ing, look­ing to pre­serve cash as it nav­i­gates its late-stage ef­fort. The biotech says it laid off 28% of its work­force, leav­ing 76 staffers on the job.

→ Raleigh, NC-based PRA Health Sci­ences is buy­ing out da­ta an­a­lyt­ics com­pa­ny Sym­pho­ny Health So­lu­tions for $530 mil­lion. “We are ex­cit­ed about this new re­la­tion­ship and look for­ward to help­ing Sym­pho­ny Health con­tin­ue to grow their ex­ist­ing busi­ness and work­ing with them to ex­pand ge­o­graph­i­cal­ly us­ing PRA’s glob­al foot­print,” said Col­in Shan­non, PRA’s chief ex­ec­u­tive. “Sym­pho­ny Health will al­so pro­vide us with rich da­ta in­sights that will al­low us to cus­tomize our clin­i­cal stud­ies to be as unique as the pa­tients who they are de­signed around. By cre­ative­ly har­ness­ing the pow­er of our tech­nol­o­gy and da­ta as­sets, we are re­defin­ing the clin­i­cal de­vel­op­ment process for a more pa­tient-cen­tric fu­ture.”

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