After Lead Candidate Failure, Vical Axes More Than Half Its Workforce

A week after acknowledging the failure of its lead candidate in a Phase III trial, Vical has ended development of the DNA vaccine candidate and eliminated more than half its staff. Vical has shrunk its workforce from 74 to 34 staffers in a restructuring intended to conserve cash. The job cuts were completed Tuesday, Vical said in a regulatory filing . The company will take approximately $1.1 million in first-quarter charges related to the cuts.Vical shrunk its workforce after disclosing Jan