Just days after Dyax received a complete response from the FDA for its hereditary angioedema treatment, DX-88, the company has gone ahead and given 60 employees the axe. The axes will swing in none other than R&D of course.

The company says that by doing this it can save $18M/year. It will also take a $2M severance charge as a result of the firings (comes out to about $33,333 per worker).

All resources and efforts will now be used to clear up the FDA issues and prepare for launch. Here’s what CEO Gustav Christensen had to say about showing 60 employees the exit sign:

“Dyax is moving into a new phase of its evolution as a Company, going from a research-stage organization to a fully integrated biotechnology company. It is important that we focus our resources during this transition to ensure our long-term success, particularly as the broader markets work through a period of almost unprecedented global economic dislocation. The contributions made by those leaving our Company are noteworthy and are greatly appreciated, and we express our gratitude for their commitment to Dyax.”

Last Thursday, Dyax received a complete response from the FDA for DX-88. The FDA requested more information regarding CMC (chemistry, manufacturing and controls) and a risk evaluation and mitigation strategy (REMS). No additional trials will be needed. The small protein kallikrein inhibitor is designed to treat acute attacks of heriditary angioedema (HAE).

Viropharma’s Cinryze, a C1-esterase inhibitor, is currently approved for prevention of HAE attacks and is now seeking approval for treatment of acute attacks. Viropharma has a PDUFA date of June 3rd. Analysts are for the most part in agreement that Viropharma’s product has the upperhand with less side effects and potential for allergic reactions given the need for a REMS (for DX-88).

Oh yeah, and to the employees: thanks for the work.

Image from dyax

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