Achaogen Restructures & Slashes Staff 28% Ahead of Antibiotic Launch

The runup to a new drug launch is usually a time for hiring, but antibiotics developer Achaogen is doing just the opposite.

Faced with a tough market for antibacterial products, Achaogen (NASDAQ: AKAO) announced Thursday that it will eliminate 80 positions, which is roughly 28 percent of its staff. Those cuts include much of the executive team.