Lykos co-founder Doblin to step down after MDMA setback

Lykos Therapeutics is slashing around 75% of its staff following the FDA's decision not to approve its MDMA-assisted therapy for post-traumatic stress disorder (PTSD) last week, with founder Rick Doblin also stepping down from the company's board.

The restructuring will create a team focused on "clinical development, medical affairs, and engagement with the FDA" as it tries to get its application for MDMA therapy midomafetamine back on track. The FDA has asked the company to complete a new phase 3 trial, which would introduce a considerable delay to the programme.