Flex Pharma to slash 60 percent of its workforce

Jun 13, 2018

Boston-based Flex Pharma announced this week that it is halting two mid-stage drug trials and cutting more than half of its workforce. The company is also looking at ways to position itself to be sold.

Flex said that it’s ending two phase 2 studies for its lead drug, FLX-787, citing safety concerns about the “oral tolerability” of the medication. The drug was being tested to treat pain associated with multiple sclerosis, as well as amyotrophic lateral sclerosis and a rare neuromuscular disorder.

To continue the studies, the company said it would have had to experiment with different doses and formulations, which would have been “challenging” with its current resources. As of March, the company had 22 employees.

Read the full Reuters report.