Gritstone files for bankruptcy in hope of keeping cancer vaccine R&D afloat

Gritstone bio may have left no stone unturned when it came to searching for a financial rescue, but the vaccine biotech has decided that all roads now lead to bankruptcy.

The cash-strapped company brought in bankers last week to explore “potential value-maximizing strategies” after its phase 2 colorectal cancer vaccine data fell short of the success needed to reverse its fortunes.