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Business

Ophthotech and Nivalis slash jobs

by Ann M. Thayer
January 23, 2017 | APPEARED IN VOLUME 95, ISSUE 4

Poor clinical trial results have pushed two companies to each cut about 80% of their staff, including top executives, as they determine how to move ahead. In December, Ophthotech reported that its anti-PDGF therapy Fovista failed to show any benefit in two late-stage macular degeneration trials. At the time, the company had about 154 employees. Separately, Nivalis Therapeutics is restructuring and will retain just five of its 30 employees after a disappointing Phase II trial of its cystic fibrosis drug cavosonstat.

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