Theseus Pharmaceuticals lays off most workers and seeks 'strategic alternatives' after cancer pipeline failure
Theseus Pharmaceuticals said after Monday’s closing bell that it will let go of 72% of its workforce, or about 26 people, and will seek “strategic alternatives” that could include a sale of itself or its assets.
The job cuts come four months after the Cambridge, MA-based company scrapped its KIT inhibitor due to safety concerns. Those on the way out include R&D leader William Shakespeare, who will consult with the company until the end of next June, Theseus said in a press release. More details were included in an SEC filing.
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