Five Prime Therapeutics has announced a corporate restructuring to extend the company’s cash runway without impacting or delaying the data timelines of its clinical programs. The company will retain a small research group focused on advancing three wholly-owned, late-stage research assets and will increasingly rely on outsourcing and contracted capabilities. The company will eliminate approximately 70 positions across all functions. Seventy percent of these positions will be eliminated by the end of 2019, with the remainder occurring in 2020. The company is also initiating activities to either sublet a significant portion of its leased space or subletting the entirety of its building and relocating to smaller facilities. Learn More