Cell Therapeutics (NASDAQ: [[ticker:CTIC]]), the Seattle-based biotech company, said it has cut 36 jobs to conserve cash. The move comes less than a week after the company’s application to sell a new drug for non-Hodgkin’s lymphoma was rejected by the FDA. The company says it now expects to spend about $60 million on operations this year, down 21 percent from its previous forecast.
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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