Md. bio Adaptive Phage Therapeutics cutting 23% of staff to focus on clinical trials, extend cash runway

Gaithersburg’s Adaptive Phage Therapeutics Inc. is laying off a chunk of its workforce to devote more resources to its clinical trials and bank more cash, co-founder and CEO Greg Merril told the Washington Business Journal. The biotech, whose therapy targets drug-resistant bacteria, intends to eliminate 22 positions — 23% of its staff — to bring its headcount to 72.