FibroGen's cost-cutting search spurs 104 layoffs while ImmuneID also restructures

FibroGen had teased painful cost-cutting measures less than a month ago after flunking a late-stage lung disease trial. Now, the full extent of the difficult decisions is coming into focus.

The company announced that it was laying off 32% of its staff, or 104 employees, as it tries to financially rebound and clinically retool following a phase 3 flop.