Theseus Pharmaceuticals lays off most workers and seeks ‘strategic alternatives’ after cancer pipeline failure

The­seus Phar­ma­ceu­ti­cals said af­ter Mon­day’s clos­ing bell that it will let go of 72% of its work­force, or about 26 peo­ple, and will seek “strate­gic al­ter­na­tives” that could in­clude a sale of it­self or its as­sets.

The job cuts come four months af­ter the Cam­bridge, MA-based com­pa­ny scrapped its KIT in­hibitor due to safe­ty con­cerns. Those on the way out in­clude R&D leader William Shake­speare, who will con­sult with the com­pa­ny un­til the end of next June, The­seus said in a press re­lease. More de­tails were in­clud­ed in an SEC fil­ing.

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