Spurned by the FDA, Intercept brings out the budget axe and chops 170 jobs
In an SEC filing Tuesday, the company said that it is slashing 25% of its workforce, or a total of 170 jobs. The move — with the bulk of the cuts coming in Q3 — will cost the company $18 million, Intercept noted, adding that it’s required to conserve cash as they go on trying to get an approval for NASH.
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