Merrimack cancer drug flop prompts new round of layoffs

After discontinuing work on its sole drug candidate in a clinical trial, Cambridge, Mass.-based Merrimack Pharmaceuticals will complete another round of layoffs, according to The Boston Business Journal.

The drugmaker paused work on MM-310, a cancer treatment, after observing signs of peripheral neuropathy in clinical trial participants. Discontinuation of the cancer treatment development comes six months after Merrimack shelved production of a different cancer drug.

As a result, the drugmaker plans to lay off an undisclosed number of its 27 employees.

The company said it will invest resources toward development of its two preclinical drug candidates.

Read the full report here.

 

More articles on pharmacy:
7 drugs projected to become blockbusters by 2023
3 insulin manufacturers to testify at House panel April 10
Cigna-Express Scripts cap out-of-pocket 30-day insulin costs at $25

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months