The runup to a new drug launch is usually a time for hiring, but antibiotics developer Achaogen is doing just the opposite.
Faced with a tough market for antibacterial products, Achaogen (NASDAQ: AKAO) announced Thursday that it will eliminate 80 positions, which is roughly 28 percent of its staff. Those cuts include much of the executive team. In a statement released after the market close, the South San Francisco, CA-based biotech said the restructuring would enable the company to focus its attention on the launch of its antibiotic plazomicin (Zemdri), as well as two research programs that already have funding…. Read more »
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