Eiger BioPharmaceuticals to focus on GLP-1 candidate, cut workforce by 25%
Eiger BioPharmaceuticals said it’s now focused on developing a GLP-1 antagonist amid a review of its business that includes laying off 25% of its employees and cutting R&D spending on a liver disease treatment.
The California biotech revealed the pivot Thursday, telling investors that it will now focus on avexitide in patients with post-bariatric hypoglycemia, a rare complication of weight loss surgeries such as gastric bypass, according to David Apelian, who has formally been named CEO after serving in an interim role.
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