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news.Following a development program review, Xcyte Therapies has cut 24% of its workforce as part of a move to focus resources and activities in two key areas.
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The company will concentrate its efforts on a planned phase II/III trial in chronic lymphocytic leukemia (CLL) and a planned a phase I/II trial in HIV, but will not initiate additional trials in with multiple myeloma and non-Hodgkin’s lymphoma once the current ongoing studies are complete.
Xcyte’s highest priority will be to get the CLL trial underway as soon as possible, and the company is currently working with the FDA to resolve remaining issues relating to the trial design.
As a result of the plan to focus clinical development on the CLL and HIV trials, Xcyte has reduced its workforce by approximately 24% to around 81 employees. The company stated that it believes the remaining staff will be sufficient to initiate the two planned clinical trials and to transfer manufacturing operations for the phase II/III trial to its new facility.
The total cost to the company of the termination benefits are expected to be approximately $300,000.