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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