Tuesday, November 25, 2008
Vical Cuts 20 Percent
San Diego-based Vical Incorporated, a biopharmaceuticals firm focused on immunotherapeutics for cancer and DNA vaccines for infectious diseases, said Friday that it has cut 29 employees, or approximately 20 percent of the firm. According to the company, it has also accelerated closure of a research facility. The firm said that the moves are expected to reduce the firm's cash burn by approximately $4M annually. The firm now has 120 employees.