OncoMed Pharma (OMED) to Reduce Workforce by 50%
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OncoMed Announces Workforce Reduction
April 24, 2017 4:35 PM EDTREDWOOD CITY, Calif., April 24, 2017 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals Inc. (NASDAQ: OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, announced today a significant reduction in its workforce to focus internal efforts on the advancement of three clinical-stage programs to key milestones and continued immuno-oncology drug discovery and development, while seeking to partner select pipeline assets.Â
OncoMed will reduce its workforce by approximately 50 percent, resulting in 64 remaining full-time employees. Through implementation of the plan announced today, OncoMed expects to realize significant cost savings of approximately $60 million over the next two... More
