New QLT board sacks two-thirds, and may sell wet AMD candidate
This article was originally published in Scrip
Executive Summary
Vancouver-based biotechnology company QLT is cutting its workforce by two-thirds, trying to monetise some assets, and realigning its resources to focus on its Phase Ib synthetic retinoid replacement therapy for two eye disease orphan indications – all part of a shake up. The shares reached C$7.81, up 1.4%, on the Toronto Stock Exchange late on 9 July.