CombinatoRx Cuts 30 More Jobs, Wiping out Two-Thirds of Staff in Last Month

Luke Timmerman11/20/08

CombinatoRx, the Cambridge, MA-based biotech company, said this afternoon it is cutting 30 more jobs, which means it has now eliminated two-thirds of its staff since its lead drug candidate for arthritis failed in a clinical trial in early October. The company (NASDAQ: CRXX), which will be left with 55 employees, should have enough cash to operate without raising more capital from investors for four years, the company said. We’ve updated our Boston Tech Layoff Tracker accordingly.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.