Fibrocell dermatology, autoimmune news
Fibrocell reduced headcount by 24 (about 50%) to about 24 and will wind down its azficel-T operations after the candidate missed the primary endpoint in a Phase II trial to treat vocal cord scarring. Fibrocell will seek an acquirer for the injectable autologous cellular therapy for tissue regeneration. The company will focus on the gene therapy portfolio under its co-development deal with Intrexon Corp. (NYSE:XON, Germantown, Md.), including FCX-007 and FCX-013. Fibrocell expects the reduction to save about $1.6 million monthly for the remainder of 2016, compared to a year-to-date monthly cash burn average of $2.2 million. At March 31, the company had $13.1 million in cash and a three-month operating loss of $6.7 million. Fibrocell recorded a 2015 operating loss of $37.4 million. ...