Retrophin takes the ax to its Cambridge office as it concentrates on late-stage R&D push
Retrophin is closing up its office in Cambridge, MA and consolidating operations in its headquarters based in San Diego as it focuses on pushing ahead with late-stage R&D.
In a filing with the SEC the biotech said “select” staffers would be relocated to the West Coast, with replacements being recruited for the rest of the positions after the office is closed by the end of this year.
There was no immediate word on how many staffers will be affected by the move, but Retrophin estimated that the reorganization will cost about $4.5 million to complete. The biotech $RTRX has a market cap of $740 million.
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