The company announced the job cuts and a deal to sell its assets to 14ner Oncology for up to $58 million May 30. The drugmaker also will discontinue its preclinical programs.
The decision comes after months of financial struggles for the once-thriving pharmacy company. It recently cut 60 percent of its staff after a phase 2 trial for one of its lead drugs flopped.
The decision will affect its 27 employees. At its peak, the drugmaker employed more than 425 people.
Read the full report here.
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