Allon Therapeutics, Inc. Implements Staff and Administrative Reductions; Announces Resignation of Michael Gold as Vice President, Clinical Development and Chief Medical Officer
December 21, 2012 at 04:22 pm EST
Allon Therapeutics, Inc. announced that, after the negative results in its pivotal davunetide study, it has implemented staff and administrative reductions. As part of this process approximately 40% of its staff has been terminated. As part of that strategic review, a number of additional personnel have accepted working notice of potential future termination while the company assesses its strategic options.
The company also announced that Dr. Michael Gold, Vice President, Clinical Development and Chief Medical Officer of the company, has resigned.