Floundering in the wake of an FDA approval, Achaogen makes a second round of deep cuts to stay alive
Success can be costly in this business. Partial success can be a disaster.
Just 3 months after Achaogen execs took out the budget ax and whacked around a quarter of its work force, with its R&D chief, CSO and CFO leaving in the exodus, the CEO has to cut much more. The goal now is to slash overall costs 35% to 40% at the antibiotics developer while posting a ‘for sale’ sign in the window as the company considers all options in a scramble to stay afloat.
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.