Cash-strapped Gem­phire lets go of five staffers as it con­tends with a clin­i­cal hold

Scrap­ping for cash to pro­duce ad­di­tion­al safe­ty da­ta re­quest­ed by the FDA be­fore it could pro­ceed with its lead drug, Gem­phire has cut in­to its C-suite for a round of lay­offs.

The re­duc­tion — which claims five staffers, or a third of the tiny biotech’s work­force — caps a tur­bu­lent few months at Gem­phire $GEMP dur­ing which its shares were bat­tered, first by a par­tial clin­i­cal hold that’s de­railed its plan for late-stage stud­ies, then by the news that it has shut­tered a Phase IIa study af­ter in­ves­ti­ga­tors de­cid­ed the drug might have made pa­tients worse.

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