Layoffs
Novartis will eliminate 285 jobs across units in New Jersey. The terminations will take effect on January 28, 2023.
In a strategic reorganization announced Thursday, Axcella Therapeutics will focus its resources on its Long COVID program and slash headcount by 85%.
Instil Bio is discontinuing the development of its unmodified tumor-infiltrating lymphocyte (TIL) therapeutic, ITIL-168, and laying off 60% of its staff.
MEI Pharma, Inc. will have a strategic realignment that would see at least 30% of its workforce laid off and a pivot towards two of its earlier clinical-stage assets.
Whether a job search is voluntary or not, months of interviews, wrangling over pay and benefits and evaluating options has a weighty psychological toll.
SQZ Biotechnologies is slashing 60% of its workforce and looking for a new CEO after initiating a strategic prioritization to focus on its cell therapy platform for solid tumors.
Spectrum Pharmaceuticals made the call Friday to slash three-fourths of its workforce on the heels of a Complete Response Letter from the FDA.
Tricida, Inc. is reducing its headcount by around 57% to improve its financial standing after its lead candidate failed in a Phase III trial, the company revealed in its third-quarter financial results.
Neoleukin Therapeutics plans to slash its workforce by about 40% and drop NL-201, a de novo IL-2/IL-15 agonist currently in Phase I, according to its third-quarter report.
Third Rock-founded Faze Medicines appears to be shuttering operations, with several former employees signaling they are looking for new jobs.
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