Layoffs
Adverum Biotechnologies is cutting 78 jobs after announcing it had successfully amended its Investigational New Drug application for ADVM-022.to treat wet age-related macular degeneration.
Heron Therapeutics and Avadel Pharmaceuticals have now joined the ranks of life sciences companies cutting costs including laying off a significant number of employees.
After the spring reductions in the workforce that left thousands of biotech employees searching for jobs, larger companies are, for the most part, moving forward.
Although the company promised strong sales-based resources for the launch of dry eye drug Tyrvaya, the streamlining plan will include laying off up to 50 employees.
Swiss biopharma giant Novartis plans to cut up to 8,000 jobs in hopes of saving at least $1 billion by 2024.
RedHill announced that it will lay off a third of its U.S. workforce in an effort to save money over the next year and a half.
The life science industry is growing rapidly, and many companies have announced expansions and job creation. Still, others have been forced to cut costs and slash jobs. For that and more, continue reading.
Amarin and Vincerx Pharma intend to restructure their financial strategies and lessen operational costs by trimming their employee rosters.
Shares of Cleveland-based Athersys, Inc. are plunging Friday after the company announced a strategic restructuring that will result in the slashing of 70% of its workforce.
Atreca is reducing its staff count by over 25%, covering current employees and open roles, and revising its operating plan to reflect these cost-cutting measures.
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