Vical Restructures and Reduces Staff - - BioPharm International

ADVERTISEMENT

Vical Restructures and Reduces Staff



The biopharmaceutical company, Vical is restructuring which includes a staff reduction of 47 employees, or approximately 39% of the company's total workforce. Following the restructuring, the company will have approximately 74 employees. In addition, the company is focusing its resources on its infectious disease vaccine programs and terminating activities related to Allovectin, the company's investigational cancer immunotherapy which recently failed to meet its Phase III efficacy endpoints.

The company expects restructuring charges of approximately $2.2 million in the third quarter of 2013. Vical’s currently available cash and investments will be adequate to satisfy its needs at least through 2015, according to the company.

Source: Vical

blog comments powered by Disqus

ADVERTISEMENT

ADVERTISEMENT

American CryoStem and Rutgers University File Joint Patent on Stem Cell Platform
April 11, 2014
PhRMA Report Reveals Growth Trajectories and Policy Factors Affecting Biopharmaceutical Growth
April 11, 2014
Center for Biologics Evaluation and Research Relocates
April 11, 2014
FDA Develops Alternative Assay to Increase Availability of Influenza Vaccines
April 10, 2014
Merck Announes Management Changes
April 7, 2014
Author Guidelines

Click here