Geron Lays Off Nearly Half Its Workforce
From Associated Press
Human embryonic stem cell leader Geron Corp. announced that it was laying off nearly half its employees. The Menlo Park, Calif.-based company said 40 researchers and support staff were being laid off “in order to concentrate its resources” on developing a cancer drug and stem-cell related therapies.
The company, which laid off a third of its staff and cut research spending during the summer, is now left with 51 employees.
Geron shares fell 23 cents to $3 on Nasdaq.
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