Altus Pharma to Shut Doors

9/15/09

Waltham, MA-based Altus Pharmaceuticals, a developer of protein-based drugs, revealed in an SEC filing yesterday that it decided last week “wind down” the company’s operations. The company (NASDAQ:ALTU) is also ending a mid-stage clinical trial to test its growth hormone deficiency drug ALTU-238 in children. The firm plans to let go “substantially all” of its employees this month and in October. In August, Altus told investors that its cash resources at that time would only carry its operations into this month.

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