16 Jan

Five Prime’s Shakeup Cuts Staff 20%, Keeps Focus on Clinical Programs

Five Prime Therapeutics is cutting its headcount by 20 percent, part of a cash-saving effort the company is making to focus on the cancer drugs it has already advanced into clinical trials.

South San Francisco, CA-based Five Prime (NASDAQ: FPRX) said Tuesday that the corporate restructuring will reduce operating expenses by $10 million in 2019 to support on clinical-stage programs expected to report key data later this year.

“This was a hard decision to make, but we believe that effective use of capital is crucial to supporting our strong pipeline of anti-cancer drug candidates,” CEO Aron Knickerbocker said in a… Read more »





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