Following the U.S. Food and Drug Administration’s rejection of its pneumonia drug in December, Chapel Hill-based Cempra (Nasdaq: CEMP) announced Tuesday that it has reduced its workforce by 67 percent, from from 136 to 45 employees.
“Our corporate restructuring was implemented to enable us to conserve our financial resources,” Cempra stated. “As a result of the restructuring, we expect our research and corporate expenses to trend significantly downward beginning in the second quarter of…
Following the U.S. Food and Drug Administration’s rejection of its pneumonia drug in December, Chapel Hill-based Cempra (Nasdaq: CEMP) announced Tuesday that it has reduced its workforce by 67 percent, from from 136 to 45 employees.
“Our corporate restructuring was implemented to enable us to conserve our financial resources,” Cempra stated. “As a result of the restructuring, we expect our research and corporate expenses to trend significantly downward beginning in the second quarter of…