The company's phase 1b studies of its imvotamab antibody for arthritis and lupus flopped; CEO Dr. Mary Beth Harler wrote that 'the depth and consistency of B cell depletion is insufficient to meet our high bar for success.'
The 73% layoff, the release said, is an effort 'to preserve cash.' Harler thanked the laid-off workers and wrote, 'We are grateful for their support and wish them all the best in their future endeavors.'
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