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Zafgen to scrap obesity drug, axe jobs

Zafgen saw its shares falling by 41.9 percent on Tuesday after the biopharmaceutical company said it would halt developing beloranib, an obesity drug, and slash its workforce by 34 percent.

The U.S. Food and Drug Administration in December ordered Zafgen to stop all tests on the drug after second patient died from an artery blockage in the lung.

The company expects to incur a non-recurring charge of about $2.4 million in the third quarter related to the restructuring.

The material has been provided by InstaForex Company – www.instaforex.com

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Zafgen to scrap obesity drug, axe jobs Reviewed by on . Zafgen saw its shares falling by 41.9 percent on Tuesday after the biopharmaceutical company said it would halt developing beloranib, an obesity drug, and slash Zafgen saw its shares falling by 41.9 percent on Tuesday after the biopharmaceutical company said it would halt developing beloranib, an obesity drug, and slash Rating:
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