Pieris Phar­ma­ceu­ti­cals lays off 70% of work­force af­ter As­traZeneca ends asth­ma med­i­cine part­ner­ship

Pieris Phar­ma­ceu­ti­cals is lay­ing off about 70% of its work­force in a “cor­po­rate re­struc­tur­ing” to pre­serve cash a lit­tle less than a month af­ter As­traZeneca axed an agree­ment with the biotech to con­duct a Phase IIa study for elarek­ibep, an in­haled asth­ma med­i­cine.

In SEC fil­ings, Pieris said that as of Dec. 31 last year, there were 127 full-time em­ploy­ees and 17 per­ma­nent part-time em­ploy­ees — with 20 staffers in the US and 124 in Ger­many.

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