Transcept announces layoffs
Transcept Pharmaceuticals—known for its sleep drug Intermezzo—is cutting 43% of its workforce.
The company announced Tuesday that six employees will be laid off between now and early 2014, leaving a staff of eight.
The layoffs are part of a larger restructuring that includes reorganizing its board of directors.
The company's lead pipeline product, TO-2070, is for acute migraines.