In­ovio prunes head­count again; Au­los adds to Se­ries A

In­ovio Phar­ma­ceu­ti­cals is un­der­go­ing its third round of lay­offs in 13 months, part­ing ways with 58 em­ploy­ees or about 30% of its re­main­ing full-time work­force, the com­pa­ny said in an SEC fil­ing.

The small­er head­count will equate to an­nu­al sav­ings of about $9.9 mil­lion, In­ovio said, and will cost the com­pa­ny about $2.1 mil­lion in sev­er­ance pay­ments, health­care ben­e­fits and out­place­ment ser­vices, ac­cord­ing to the SEC pa­per­work.

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