Eiger BioPharmaceuticals to focus on GLP-1 candidate, cut workforce by 25%

Eiger Bio­Phar­ma­ceu­ti­cals said it’s now fo­cused on de­vel­op­ing a GLP-1 an­tag­o­nist amid a re­view of its busi­ness that in­cludes lay­ing off 25% of its em­ploy­ees and cut­ting R&D spend­ing on a liv­er dis­ease treat­ment.

The Cal­i­for­nia biotech re­vealed the piv­ot Thurs­day, telling in­vestors that it will now fo­cus on avex­i­tide in pa­tients with post-bariatric hy­po­glycemia, a rare com­pli­ca­tion of weight loss surg­eries such as gas­tric by­pass, ac­cord­ing to David Apelian, who has for­mal­ly been named CEO af­ter serv­ing in an in­ter­im role.

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