Troubled ImmunoCellular slashes costs, jobs in restructuring; Accelerated Pharma dumps struggling IPO effort

⇨ LA-based ImmunoCellular Therapeutics $IMUC is pushing through a cost-cutting program, slashing staff and facilities in the process. Two board members are also leaving the troubled company. A few weeks ago the floundering biotech was forced to call a halt to patient assignments for its Phase III study after running short of cash to complete the job.

⇨ A day after Ultragenyx was forced to scrap one of its Phase III efforts, the biotech and its partners at Kyowa Hakko Kirin have filed a marketing application at the FDA for burosumab, a new therapy for X-Linked Hypophosphatemia.

⇨ After whittling down its expectations from an IPO from $17 million to a mere $8 million, Westport, CT-based Accelerated Pharma decided to just scrap the effort. The biotech’s S-1 says that they like to find new uses for existing drugs, with a lead effort on new formulations and combinations of the chemo drug Picoplatin.

⇨ Canada’s TRC Capital is out to nab about 2% of Ionis’ shares at a discount price, and the biotech isn’t happy about it. The company says that these gambits are often used to trick investors to give up their shares at below-market rates and wants its shareholders to shun TRC.

The early-stage, non-clinical CRO Envigo is doing a reverse merger with Avista Healthcare Public Acquisition Corp. Envigo expects to list on Nasdaq.

⇨ The diagnostics company Celcuity is out to raise about $15 million in a small IPO.

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 51,100+ biopharma pros who read Endpoints News by email every day.

Free Subscription

VP Oncology Biology
Skyhawk Therapeutics Waltham, MA
Director Process Development
Elektroki Boston, MA
Director Process Development
Elektroki Boston, MA
Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT

Visit Endpoints Careers ->