Lykos' longtime CEO to step down in latest shakeup after MDMA drug setback

(Reuters) - Lykos Therapeutics said on Thursday longtime CEO Amy Emerson would step down from the role, in the latest shakeup after the U.S. health regulator declined to approve its MDMA-based treatment for post-traumatic stress disorder.

Michael Mullette, chief operating officer since early 2022 after over two decades with Sanofi and Moderna, will be the interim CEO, the company said.

Lykos, formerly known as MAPS Public Benefit Corp, laid off 75% of its workforce and said founder Rick Doblin would leave the board, days after the U.S. Food and Drug Administration's decision.

The health regulator in August declined to approve the company's treatment and asked for an additional late-stage trial.

Emerson, who has led Lykos since its founding in 2014, will transition into a senior adviser role.

(Reporting by Christy Santhosh; Editing by Shilpi Majumdar and Sriraj Kalluvila)