Failed Ni­valis pares down to a skele­ton crew as it launch­es a sal­vage op­er­a­tion

Back at the end of No­vem­ber, lit­tle Boul­der, CO-based Ni­valis Ther­a­peu­tics hit a clin­i­cal land mine and saw its shares ex­plode, in a bad way, as its lead drug flopped in an ef­fort to see if it could help cys­tic fi­bro­sis pa­tients.

Now, with its back up against a wall and Wall Street in a black mood re­gard­ing clin­i­cal fail­ure, CEO Jon Con­gle­ton and some two dozen staffers are be­ing dis­missed as the 5 sur­vivors go out in search for a vi­able “strate­gic al­ter­na­tive.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER