Aveo Pharmaceuticals Inc. said in a Monday press release that it has received a formal rejection of a kidney-cancer drug candidate from the US Food and Drug Administration.
The news was expected. Last week, Cambridge-based Aveo said it would lay off 140 employees as it looks to scrap the kidney-cancer drug candidate and re-focus on other experimental drugs in its pipeline.
Aveo announced the restructuring after an advisory panel recommended last month that the FDA reject Aveo’s new drug application for tivozanib as a treatment for renal cell carcinoma. The disease is a form of kidney cancer that kills tens of thousands of people around the world annually.