Layoffs
Applied Molecular Transport (AMT) provided a strategy update on Wednesday. Part of the update includes reducing its workforce by about 40% and funneling resources into its lead program.
As Scholar Rock prepares to move forward with its experimental assets for spinal muscular atrophy, it has terminated 25% of its staff and also announced the loss of its chief medical officer.
Agios Pharmaceuticals is cutting its staff numbers by 50 as part of plans to lay low on exploratory research efforts to focus on the success of late-stage initiatives.
Orion announced that it will be focusing on pain and oncology going forward. As a result, 32 working professionals within the company will be terminated, although six of those will be offered different positions.
ImmunoGen, which is developing Antibody-drug conjugates (ADCs) for the treatment of cancer, is on a hiring spree. The company is looking to hire for more than 200 positions by the end of 2022.
Spero is reducing a huge chunk of its staff to minimize expenses and reallocate resources toward more promising projects in anticipation of the FDA’s decision on its NDA for tebipenem HBr.
Genocea Biosciences and Solid Biosciences are undertaking a new strategic prioritization that includes reducing their headcount.
Sio Gene has terminated its licensing deal with the UMass to develop and commercialize two gene therapy product candidates to focus on more potentially profitable projects.
Novartis, Nektar and BridgeBio confirm their plans to restructure their operation, including a number of their employees being laid off.
Nektar Therapeutics outlined a strategic reorganization plan that includes cutting 70% of its workforce. This comes only weeks after BMS abandoned its clinical collaboration program with Nektar.
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