Layoffs
With some proactive measures, you can make it more likely your stocks will remain yours in the event of a layoff.
Amgen is terminating 450 workers in hopes of weathering dropping drug prices and rising inflation. This is Amgen’s second round of job cuts this year.
A recent report released by accounting and consulting firm BDO showed that over the course of 2023, 13% of life sciences companies may turn to layoffs in response to uncertain economic conditions.
MorphoSys AG announced Thursday it plans to drop its pre-clinical programs and cut 17% of its workforce in an effort to extend its cash runway.
As the macro pressures of higher rates and fear of recession build, today’s investor is increasingly risk averse. With zero-risk options offering decent returns, only the highest-quality programs will get funding.
Theravance Biopharma is discontinuing research activities for its JAK inhibitor program in lung inflammation and reducing its headcount by about 17%.
Graphite Bio is discontinuing the development of nulabeglogene autogedtemcel (nula-cel), its lead asset, and shaving off about 50% of its workforce.
Talaris Therapeutics is cutting one-third of its workforce and dropping two clinical trials studying its lead candidate.
Spanish drugmaker Grifols announced a comprehensive plan Wednesday to improve its efficiency and cost-effectiveness – a move that will reportedly cost some 2,000 U.S. jobs.
Eliem Therapeutics is dropping a depression drug candidate and laying off 55% of staff in an attempt to stretch its cash runway to 2027.
PRESS RELEASES
