STAT+: Lykos Therapeutics cuts 75% of staff after FDA rejects MDMA-assisted therapy
Lykos Therapeutics, whose MDMA-assisted psychotherapy for post-traumatic stress disorder was rejected late last week by U.S. regulators, announced Thursday that it would cut 75% of its staff, and that the company’s founder would step down from its board.
“We take to heart the FDA’s decision and the additional work we will need to do to bring this pioneering therapy to market,” Jeff George, chairman of the board, said in a statement.
Lykos said that its remaining employees would focus on clinical development, medical affairs, and working with the FDA on moving forward on a new drug application for MDMA capsules to treat PTSD.
