The layoffs come as the biotech industry struggles.
After disappointing trial results for its melanoma and ovarian cancer treatments, Mural Oncology announced Wednesday it will cut about 104 positions, or about 90% of its workforce.
The company decided to discontinue all clinical development of nemvaleukin alfa, a novel immunotherapy cancer treatment, after the trials fell short of target goals. As a result, the company said it is exploring strategic options for its future.
The company expects to lay off the majority of its workforce by the end of the second fiscal quarter, according to SEC filings…