Transcept cuts jobs after FDA nixes Intermezzo again
This article was originally published in Scrip
Executive Summary
Transcept Pharmaceuticals' vice-president of marketing and sales is among the casualties as the US firm cut 45% of its workforce following the FDA's rejection of its insomnia drug. However, the company has not given up on the product, even if it looks likely it will miss out on a $30 million milestone payment from its partner.