The latest update is out from eFFECTOR Therapeutics (EFTR).
eFFECTOR Therapeutics, Inc. is in the process of winding down operations, leading to the termination of employees and the resignation of its board of directors and officers, including the President and CEO. The company anticipates about $0.6 million in associated costs for the workforce reduction. Craig R. Jalbert has been appointed as the new CEO, President, and sole board member to oversee the wind-down. He brings over 30 years of experience in managing distressed businesses and will be compensated $50,000 annually for three years.
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