IMPL - Impel Pharma says reducing headcount by 16% eliminating pipeline programs
- Impel Pharmaceuticals ( NASDAQ: IMPL ) on Wednesday said it would implement cost saving measures including eliminating pipeline programs and reducing its workforce.
- The company said it would cut its headcount by 16% and would reprioritize its spending on the development of its Trudhesa nasal spray.
- As part of the measures, IMPL will end R&D efforts on its INP105 treatment to address acute agitation and aggression in autism spectrum disorder.
- IMPL also said its chief medical officer Stephen Shrewsbury would leave the company, effective March 31.
- IMPL stock was marginally up 0.2% to $2.32 after hours.
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Impel Pharma says reducing headcount by 16%, eliminating pipeline programs