Cempra slashes staff while shares tank (again) after a new series of setbacks for lead antibiotic
Cempra’s Q4 review today includes a slate of new setbacks, ranging from a failure for a Phase III non-inferiority trial of its antibiotic solithromycin in gonorrhea to an early end of an exploratory study in NASH as well as a decision to shutter a trial in COPD based on safety concerns. And with the fate of its lead program up in the air, the biotech followed up with a top-to-bottom restructuring, slashing most of its payroll as it sought to conserve cash.
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