Layoffs
The first quarter hasn’t been kind to international biopharmaceutical firms. BioSpace takes a look at the fates of Saniona and Black Diamond below.
Finch Therapeutics has slashed its headcount by 20% in order to free funds to focus its resources on its programs in recurrent C. difficile infection and autism spectrum disorder
Weeks after Imara announced its plans to discontinue the development of tovinontrinein for sickle cell and beta-thalassemia and heart failure, the company has culled 83% of its workforce.
The revised operating plan also includes reductions in spending related to general and administrative expenses and investments in its research platform.
ProQR Therapeutics, which is developing RNA therapies for genetic eye diseases, announced Wednesday that it will be restructuring and laying off 30% of its staff.
Novartis announced a global restructuring that will include cutting thousands of jobs. The restructuring is intended to effectively merge two divisions within Novartis into one.
Shares of Kaleido Biosciences are plunging after the company announced its intentions to cease all company operations, lay off its remaining staff and delist from the Nasdaq Exchange.
In a regulatory filing, the Cambridge, Massachusetts-based company indicated that it plans to “refocus its strategic priorities” and lay off 42% of its workforce.
Six months after acquiring Kadmon Holdings, pharma giant Sanofi is closing Kadmon’s New York facility. As part of the paring down, Sanofi is also laying off 25 employees at the location.
Following the ongoing trend in the pharmaceutical industry, approximately 30% of bluebird’s staff will be let go in an effort to reduce operational costs to under $340 million by the end of 2022.
PRESS RELEASES
