Days after disclosing trial flop, stem cell therapy developer axes 70% of workforce while searching for cash
When Daniel Camardo hosted his first quarterly investor call as CEO of Athersys, the picture he painted was all rosy: He’s joining to “complete the development, approval, launch and commercialization” of the biotech’s stem cell therapy. “With thoughtful and timely execution,” he said, Athersys “will be well-positioned to meet our long-term goals.”
But it looks like his tenure will first be defined by a very different task.
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