GlobeImmune infectious news
GlobeImmune will cut the “majority” of its headcount to save cash after GS-4774 missed the primary endpoint in the Phase II GS-US-330-0101 trial to treat chronic HBV infection in May. At Dec. 31, 2014, GlobeImmune had 22 employees. The company said it will seek strategic alternatives and that the restructuring is not expected to affect ongoing clinical trials for GI-6301 in cancer and GS-4774 in HBV conducted by its collaborators. GI-6301, a whole heat-killed recombinant Saccharomyces cerevisiae yeast genetically modified (Tarmogen) to express high levels of brachyury protein, is in Phase II testing to treat locally advanced, unresectable chordoma. GS-4774, a Tarmogen that expresses HBV antigens, is also in a Phase II trial in treatment-naive patients with HBV infection.
At March 31, GlobeImmune had $14.4 million in cash and a three-month operating loss of $1.6 million. The company reported a 2014 operating loss of $5.8 million. The company declined to respond to questions on restructuring logistics (see BioCentury, June 1). ...