Waltham, MA-based Altus Pharmaceuticals, a developer of protein-based drugs, revealed in an SEC filing yesterday that it decided last week “wind down” the company’s operations. The company (NASDAQ:[[ticker:ALTU]]) is also ending a mid-stage clinical trial to test its growth hormone deficiency drug ALTU-238 in children. The firm plans to let go “substantially all” of its employees this month and in October. In August, Altus told investors that its cash resources at that time would only carry its operations into this month.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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