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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