VaxGen shutters program, axes staff in second retrenchment

Troubled VaxGen has taken the axe to its budget for the second time in five months, chopping out a quarter of its workforce - 20 people - following the cancellation of a government contract for its anthrax vaccine. VaxGen is also halting any further development work on its recombinant anthrax vaccine and is actively searching for a partner. The South San Francisco-based developer handed pink slips to more than half of its staff at the beginning of the year after the company lost the federal contract for 75 million doses of vaccine.

- here's the report on VaxGen from the Charlotte Business Journal

Related story:
VaxGen misses federal deadline on anthrax vaccine. Report
US cancels VaxGen's $877M vaccine contract. Report