Exelixis cuts 175 staffers to prioritize late-stage drug development   

Ex­elix­is is lay­ing off 175 em­ploy­ees, or 13% of its work­force, to “re­bal­ance re­sources” with a fo­cus on can­di­dates clos­er to mar­ket.

The com­pa­ny ap­pears to have cut its Phase I small mol­e­cule CDK7 in­hibitor as­set XL102 un­der in­ves­ti­ga­tion for sol­id tu­mors. It was not list­ed on the com­pa­ny’s Sun­day pipeline up­date and was last ref­er­enced in its third-quar­ter re­port on Nov. 1.

The lay­offs are ex­pect­ed to be large­ly com­plet­ed be­tween Jan­u­ary and March of this year, the com­pa­ny said in a press re­lease. Ex­elix­is is ex­pect­ing to in­cur a $25 mil­lion charge due to the re­struc­tur­ing. The com­pa­ny had 1,223 em­ploy­ees in De­cem­ber 2022, ac­cord­ing to an SEC fil­ing.

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