FibroGen announces layoffs after failed late-stage trials for pancreatic cancer treatment, shutting down pamrevlumab's development and letting go 75% of U.S. workers.
Senior executives, including the scientific officer and several VP positions, are among the 127 workers laid off at FibroGen, impacting various levels of the company.
FibroGen's antibody pamrevlumab didn't meet life-extending goals in trials for pancreatic cancer. The placebo group's survival time was longer than the test group's in one trial.
CEO Thane Wettig expresses deep disappointment in the failed trials, highlighting the hopeful yet disappointing outcome of pamrevlumab in treating pancreatic cancer.
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