Medicure cuts 50 jobs after late-stage failure

After concluding that its late-stage trial of MC-1 failed to hit its primary endpoint, Medicure has announced plans to slash 50 workers and full-time consultants in order to give itself enough cash to operate into the first quarter of next year. In a release, the company also said that more cuts may be necessary.

Researchers at Medicure had been studying MC-1 for CABG, evaluating its impact on the incidence of cardiovascular death or nonfatal myocardial infarction up to and including 30 days following coronary artery bypass graft (CABG) surgery. Researchers will now focus on developing MC-1 for chronic cardiovascular and metabolic disease.

- see the release
- read the report from CNN