Struggling Ambrilia shutters facility, sheds jobs

Struggling to stay afloat, Canada's Ambrilia Biopharma is jettisoning its manufacturing facility and shedding jobs. It is also planning to move out of its offices in Montreal and find less expensive digs. Ambrilia waved a red flag to investors last summer when the developer said it didn't have enough cash on hand to meet its obligations. The biotech says that it will terminate its current lease at the end of the month. Ambrilia's shares closed yesterday at 3 cents. Release | Story