Four months after the FDA rejected its diabetes drug-eluting implant, privately-held Intarcia Therapeutics has cut 60 employees and received a clinical hold for two of its ongoing marketing studies, according to reports.
The company’s device is designed for the continuous, subcutaneous delivery of exenatide in people with Type II diabetes. It was rejected by the U.S. regulatory agency in September, after the FDA found problems with the manufacturing process used to make ITCA 650.
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