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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