Or­p­hazyme plans to lay off most of its staff fol­low­ing a string of fail­ures for lead 'pipeline-in-a-pro­duc­t'

Dan­ish bio­phar­ma Or­p­hazyme has been on a roller coast­er of a ride late­ly, and the com­pa­ny plum­met­ed down a bit fur­ther on Mon­day with the an­nounce­ment that it will lay off two-thirds of its work­force.

The news comes near­ly two months af­ter ari­mo­clo­mol, the com­pa­ny’s “pipeline-in-a-prod­uct,” flopped in ALS. The drug failed to meet pri­ma­ry or sec­ondary end­points for func­tion and sur­vival. The drug was hand­ed a com­plete re­sponse let­ter from the FDA two weeks ago, and its stock plum­met­ed 56.39 % to $6.35.

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