Troubled Seattle biotech, whose stock has lost 81 percent of its value in the past year, said it is closing a facility in Bresso, Italy. The company said that 56 people are losing their jobs in the coming months, with CTI saving $14 million in operating expenses as a result.
The Bresso operation was working pre-clinical research, with the company saying that it is supporting efforts by employees to pursue a management led buyout of the operations.
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