In the next 12 months, biotechnology company PDL BioPharma Inc. plans on cutting 260 more jobs. Along with the new job cuts, the company will cut 320 jobs that it previously announced it would eliminate, which will leave PDL with only 300 employees by the end of the year.

Said Karen A. Dawes, chair of PDL's board of directors, "Although we garnered interest regarding certain of our pipeline programs, we did not receive a firm offer for the company as a whole or for our biotech research and development assets."

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