The layoffs, which will begin April 5, come after a string of setbacks at the San Francisco-based biotech.
AbbVie purchased Stemcentrx in 2016 for a cancer drug candidate, Rova-T. However, the drugmaker has encountered a series of setbacks with Rova-T, including a failed late-stage trial. In January, AbbVie opted to take a $4 billion impairment charge related to its 2016 acquisition of Stemcentrx.
An AbbVie spokesperson didn’t return the Business Journal‘s request for comment about the layoffs.
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