Kaleido CEO Dan Menichella (AP Photo/Andrew Harnik)

Flag­ship start­up brings out the bud­get ax, chops staff and clin­i­cal plans as share price floun­ders

One of Flag­ship’s star­tups ap­pears to be buck­ling un­der the pres­sure of a steadi­ly falling stock price.

The mi­cro­bio­me com­pa­ny Kalei­do Bio­sciences con­firmed a new re­port that it’s lay­ing off staff, but is hold­ing back on de­tails, with CEO Dan Menichel­la telling End­points News in a state­ment:

We have tak­en steps to right-size the com­pa­ny and re-align re­sources to op­ti­mize our fu­ture suc­cess. We are on track to file an IND and ini­ti­ate our Phase 2 tri­al in ul­cer­a­tive col­i­tis in the first half of this year.

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