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:Physician Practices headlines - Category: American Health Authors: Source Type: news