Zio­pharm lays off half its staff af­ter man­u­fac­tur­ing is­sues force de­lays

New Zio­pharm CEO Kevin Boyle has on­ly been at the biotech for less than a month, but he’s al­ready en­gi­neer­ing ma­jor changes.

Late Mon­day af­ter­noon, Zio­pharm an­nounced a sweep­ing re­struc­tur­ing that in­volved elim­i­nat­ing more than half its work­force and 60 jobs in to­tal. The lay­offs were nec­es­sary to help the pen­ny stock play­er re­fo­cus its at­ten­tion on ad­vanc­ing its TCR pro­gram, which saw a set­back ear­li­er this year af­ter “un­fore­seen de­lays” at a con­tract man­u­fac­tur­er, Zio­pharm said.

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