Olema Oncology to cut 25% of staff, says it will focus on late-stage pipeline
Olema Oncology will let go of a quarter of its workforce, as well as two top executives, as the biotech works to keep alive work on an experimental breast cancer drug that has so far been a disappointment.
The cuts will affect workers in R&D and corporate functions, the company said in a press release Thursday. Also out are CBO Kinney Horn and Cyrus Harmon, a co-founder of the company and its chief research officer. Harmon will stay as a member of the board. The company had 83 full-time employees as of Jan. 31, according to a financial filing.
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.