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Biotech, Layoffs, cancer

Cell Therapeutics Cuts 34 Jobs

Luke Timmerman 3/6/09

Cell Therapeutics has eliminated 34 jobs in connection with the sale of its lone approved drug, Zevalin. The Seattle-based biotech company (NASDAQ: CTIC), which has run dangerously low on cash, made the disclosure Friday afternoon in a filing with the Securities and Exchange Commission. The cuts represent about 28 percent of the company’s workforce, and leave it with about 88 employees.

For an updated list of layoffs at Seattle-area technology and life sciences companies, click here.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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