David Hung's Nu­va­tion Bio ax­es clin­i­cal pro­gram, lays off 30 af­ter re­searchers say they can't man­age the side ef­fects

The lat­est biotech to sound the alarm comes from a David Hung start­up, and it comes a lit­tle over a month af­ter re­ceiv­ing a se­ries of FDA holds.

Nu­va­tion Bio an­nounced Mon­day it would dis­con­tin­ue de­vel­op­ment on one of its ear­ly-stage clin­i­cal pro­grams af­ter reg­u­la­tors halt­ed a hand­ful of stud­ies in late June. On top of this, Nu­va­tion plans to lay off 30 em­ploy­ees, rep­re­sent­ing about 35% of its work­force, ac­cord­ing to an SEC fil­ing.

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