First came the news of strate­gic re­view. Now Tri­ci­da is let­ting more than half of its staff go in wake of PhI­II flop

As the de­ci­sive de­feat of its lead and sole drug con­tin­ues to re­ver­ber­ate, Tri­ci­da is lay­ing off 57% of its work­force while it search­es for ways to cash out.

The cuts come in the wake of Tri­ci­da’s dis­clo­sure ear­li­er this month that the board of di­rec­tors had au­tho­rized a “thor­ough re­view of strate­gic op­tions,” in­clud­ing a sale of the com­pa­ny or just its as­sets, and cer­tain mea­sures to low­er op­er­at­ing ex­pens­es. At the end of last year, Tri­ci­da re­port­ed 57 full-time staffers.

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