Ophthotech and Nivalis slash jobs | Chemical & Engineering News
Volume 95 Issue 4 | p. 12 | Concentrates
Issue Date: January 23, 2017

Ophthotech and Nivalis slash jobs

Department: Business
Keywords: employment, pharmaceuticals, cystic fibrosis, macular degeneration

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.

Chemical & Engineering News
ISSN 0009-2347
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