Peninsula biotech Calithera cuts a third of jobs after kidney cancer trial flop
Calithera Biosciences Inc. shed nearly half of its value and will cut about 30 jobs after a mid-stage clinical trial of its marquee drug failed in kidney cancer patients.
The South San Francisco company (NASDAQ: CALA) said the job cuts represent 35% of its workforce. The bulk of the job losses would be among those prepping for a potential commercial launch of the drug, called telaglenastat or CB-839.
The company's 444-person Phase II study found that advanced or m etastatic renal cell carcinoma…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Ron Leuty Source Type: news
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