<|begin_of_text|><|begin_of_text|><|begin_of_text|>Aduro Biotech is laying off more than a third of its workforce in a restructuring intended to keep its focus on its cancer drugs now in clinical development.
The corporate shakeup will cut the headcount of Aduro (NASDAQ:<wm> ADUR) in its BiogeniQ division, while keeping 100 staff in its Research and Business Unit that are focused on diagnostics and electronic medical records.
The move is a result of the company's efforts to reduce costs. Over 100 employees will lose their jobs. Over time a further one-third may need to be lost in line to reduce costs to the required minimum of $17 million. These job losses are intended to keep costs at or below a dollar five for a time after the company</wm> has set the required number for one and only one position remaining.
Over time it's possible that if