Sosei genitourinary, neurology news
Sosei is cutting costs and streamlining operations, including closing its R&D office in Cambridge, U.K. The company said closing the office will reduce its staff by 40 (53%) to 36 and result in annual cost savings of about $4 million. Sosei, which will retain offices in London and Tokyo, expects the restructuring to provide the company with at least two years of cash.
Sosei attributed the decision to difficulty in raising funds at the company's “current low share price,” as well as recent problems associated with its AD923 sublingual fentanyl spray. In March, the company halted the European Phase III program for AD923 to treat breakthrough cancer pain because a technical issue with the delivery device could lead to receiving a sub-optimal dose. ...