AMES, Iowa (AP) — An Iowa drug company has laid off 87 people after a clinical trial failed on its new medication to fight a type of cancer.
The Des Moines Register reports (http://dmreg.co/28L1BaN ) that NewLink Genetics confirmed the layoff Monday.
NewLink received negative clinical trial results last month regarding its medication called algenpantucel-L, which NewLink was developing to treat patients with a form of pancreatic cancer. The trial results showed the drug didn't offer patients higher survivability rates than standard care alone.
Regulatory filings show NewLink had 210 employees and had offices in Ames; Austin, Texas; and Devens, Massachusetts, at the end of 2015.
Information from: The Des Moines Register, http://www.desmoinesregister.com