Issue Date: September 22, 2008
Two Biotech Firms Slash Staff Levels
Cytokinetics, a South San Francisco-based small-molecule biotech drug company, is reorganizing its research operations to focus on its muscle biology programs and to advance drug candidates in its clinical pipeline. The company will discontinue oncology research activities, reducing its workforce by nearly 30% to 111. Meanwhile, Memory Pharmaceuticals, in Montvale, N.J., is reducing its staff of about 55 employees by more than half to cut costs and focus on clinical development.
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