Telios Pharmaceuticals Inc. said Tuesday that it reduced its workforce by 40 percent as part of a cost-cutting move resulting from thefailed trial of its lead drug candidate.The San Diego company reduced its staff from 138, which included15 temporary employees, to 80. Telios reported last month thatArgidene Gel did not show statistical significance between thetreatment and control groups in the complete healing of diabetic footulcers. (See BioWorld Today, Oct. 7, 1994, p. 1.)Telios said it is looking for a "merger partner or other significantalliance or transactions and the possibility of increasing revenuethrough contract manufacturing and subletting a portion of itsfacility."The company said it intends to compete an analysis of the trial, aswell as analyzing data from a venous stasis ulcer trial of ArgideneGel. Telios has a Phase I trial of TP-9201, a platelet aggregationinhibitor, in Phase I trials. It said it has seven products indevelopment.A Telios spokeswoman told BioWorld the staff cutback will result in"significant savings," and that third-quarter financial results areexpected to be released within a week.Telios stock (NASDAQ:TLIO), trading at $2 per share before resultsof the trial were released, closed unchanged Tuesday at 63 cents pershare. _ Jim Shrine
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