G1 Ther­a­peu­tics de­lays PhI­II read­out of lead drug — will cut 30% of staff, CFO to ex­it

G1 Ther­a­peu­tics will lay off 30% of its work­force and re­place its CFO as the biotech re­ports a Phase III tri­al read­out de­lay.

Last month, the com­pa­ny dropped PRE­SERVE 1, a Phase III tri­al test­ing its lead drug tri­laci­clib in com­bi­na­tion with oth­er drugs in pa­tients with metasta­t­ic col­orec­tal can­cer. On Wednes­day, the biotech an­nounced that an­oth­er study of the drug, named PRE­SERVE 2, will get an in­ter­im read­out in the first half of next year. The com­pa­ny had pre­vi­ous­ly said that it would come in the sec­ond half of this year.

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