ARTICLE | Company News

ImClone news

August 29, 1994 7:00 AM UTC

IMCL said its workforce has been reduced this year to 85 employees from 137 in a restructuring program intended to focus its resources on clinical development of its lead cancer therapeutics. With cash dwindling, the New York company said it is exploring strategic alliances and non-equity financing options (See Earnings, page B6, and Completed offerings, page B8).

IMCL is conducting pilot clinical studies aimed at optimizing treatment doses of BEC2, a mouse anti-idiotypic antibody that mimics the antigen gD3, a ganglioside that is a structural component of several tumors, including those responsible for malignant melanoma and small cell lung cancer. A Phase Ib/IIa study completed in the second quarter showed no major toxicity or safety problems, the company said. ...