Anesiva is axing its preclinical development program as well as other "non-core positions" and reducing its head count by 20 percent as it restructures to focus on late-stage products and sales as the company makes its transition to a specialty pain management company. The South San Francisco biotech is also announced that it completed enrollment in two Phase III Adlea trials. Top-line data is expected in the fourth quarter.
"Since joining Anesiva in mid-June, I have conducted an extensive review of our programs, priorities and core competencies, which confirms my confidence in the underlying strength of our assets--namely our people and pipeline," said Michael L. Kranda, president and CEO. "Based on this review we are refining our strategy and restructuring operations to drive the company toward long-term success."
- check out Anesiva's release
- read the report from StreetInsider