Issue Date: August 8, 2016
NewLink and Tokai will cut jobs
Setbacks in late-stage cancer clinical trials have led to job cuts at NewLink Genetics and Tokai Pharmaceuticals. NewLink will cut about 100 jobs, or more than 40% of its staff, as it winds down work on the cellular immunotherapy algenpantucel-L, which failed to show any effect against pancreatic cancer. The firm will focus on developing its IDO pathway inhibitor, indoximod, in multiple cancers. Likewise, Tokai will reduce its workforce by about 60% to just 10 full-time employees. The company recently halted a Phase III prostate cancer trial of its small-molecule drug galeterone. The company says it will explore options for galeterone.
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