Adventrx, the San Diego-based cancer drug developer, said it has laid off another group of employees, meaning it has cut 55 percent of its workforce since the beginning of October. The company now has 14 employees left. The company had $15 million in cash at the end of September, and a net loss of $6.7 million in the third quarter, according to its most recent quarterly report.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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