Geron Lays Off Nearly Half Its Workforce
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From Associated Press
Human embryonic stem cell leader Geron Corp. announced that it was laying off nearly half its employees. The Menlo Park, Calif.-based company said 40 researchers and support staff were being laid off “in order to concentrate its resources” on developing a cancer drug and stem-cell related therapies.
The company, which laid off a third of its staff and cut research spending during the summer, is now left with 51 employees.
Geron shares fell 23 cents to $3 on Nasdaq.
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