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Article: Immune response cuts staff; looks for new CEO: Dennis Carlo resigns as chief exec of troubled AIDS firm. (Biotech).(Brief Article)(Statistical Data Included)
- Article from:
- San Diego Business Journal
- Article date:
- September 16, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Immune Response Corp., a Carlsbad-based biotech company that has seen many obstacles in developing its experimental AIDS vaccine Remune, announced Dennis Carlo's resignation as chief executive and that the company has cut more than half of its workforce.
Immune Response named Dr. Ronald Moss, formerly vice president for medical and scientific affairs, as president. The firm also began a nationwide search for a new CEO.
Carlo will remain on the board of directors and help the firm in their fund-raising effort, said Michael Jeub, Immune Response's CFO.
As of Sept. 12, the company had about $1 million in cash left, said Jeub. That monthly bum rate ...