A year that promised to be make-or-break for Alkermes’ cancer-focused spinout has taken a terminal turn.
Mural Oncology plc said on Tuesday it would stop clinical development of its lead cancer treatment, nemvaleukin, and look into strategic alternatives for the company. Mural has brought on Lucid Capital Markets LLC to explore its options.
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WATCH HEREThe biotech, which has its primary facilities in Waltham, is also laying off 90% of its workforce. The cuts amount to around 104 positions, Mural said in a securities filing, and should be done by the end of June.
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