Avanir slashes jobs, puts Zenvia on ice

Hammered by the FDA's demand for more data on Zenvia, an experimental drug for involuntary emotional expression disorder (IEED), Avanir Pharmaceuticals has halted commercial development of the drug and cut its workforce by 16 percent. Avanir's stock price has plunged about 80 percent this year, and company officials said they were cutting their burn rate to $10 million a quarter.

"These cost reduction actions and the recently announced financing will provide financial flexibility for the company while determining the future opportunity for Zenvia," said Eric K. Brandt, CEO of Avanir. "We believe in the therapeutic potential of Zenvia to provide relief for this unmet medical condition. I have personally had the pleasure of talking to IEED patients and their caregivers about the life-changing effect the drug candidate Zenvia has had on patients' lives in our clinical trials. We will provide an update on this program once we process the feedback from our planned meeting with the FDA."

- see the release on Avanir's restructuring

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