Tuesday, October 12, 2010
Halozyme Therapeutics Chops 25 Percent
San Diego-based Halozyme Therapeutics, a firm developing biopharmaceuticals for the endocrinology, oncology, dermatology and drug delivery markets, said late Monday that it has cut its workforce by approximately 25 percent, as it says it is shifting to a "development focused strategy." According to the firm, it is decreasing is research relating to discovery and preclinical assessment of new compounds, and will instead focus on bringing ints Phase 2 and Phase 1 programs to market. The firm said the moves would help it manage its cash burn rate.