Layoffs
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DBV announced official restructuring plan for keeping the company afloat.
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The recalibration will also have workforce implications, including an overall workforce reduction of approximately 20% during Q1, 2021.
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2021 is off to a hopeful start for some companies, executives and scientists, while others are forced to fold programs and recalibrate.
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Calithera Biosciences reported that its CANTATA clinical trial of telaglenastat in patients with advanced or metastatic renal cell carcinoma (RCC) failed to hit the primary endpoint.
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Mergers and acquisitions are a well-known fact in the life sciences industry, and anyone working within the sector knows to expect them at any time.
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Endo International Slashes 560 Jobs in Restructuring Plan Announced Following M&A Activity
11/6/2020
Shares of Endo International are up more than 5% after the company announced positive earnings Thursday and also announced a new restructuring plan. -
Santhera said the restructuring will allow the company to focus on the development of vamorolone, a first-in-class dissociative steroid with a novel mode of action that it gained the rights to from ReveraGen BioPharma.
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Thursday afternoon, Bellicum announced it will pause the development of its BCMA GoCAR-NK program and will also discontinue discovery research and new product development.
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Funds will also be utilized to enhance Corbus’ pipeline of novel endocannabinoid system-targeting drug candidates, and the company’s workforce will be reduced by up to 54%.
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As part of its half-year 2020 financial report, the company announced significant restructuring that will include cutting 40% of its staff.
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In addition to cutting staff, findings from the IW-3718-302 Phase III trial has caused the GI-focused healthcare company to discontinue development of IW-3718 and halt enrollment of its second Phase III trial, IW-3718-301.
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UNITY Biotechnology launched a restructuring program to focus on cellular senescence in ophthalmology and neurology. As part of the plan, it is decreasing its workforce by about 30% to optimize capital.
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In an 8-K filing with the U.S. Securities and Exchange Commission, Intercept Pharmaceuticals said it will eliminate approximately 170 employees as part of an effort to streamline the company’s operations and reduce operating expenses.
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Genentech is eliminating 474 employees, mostly based out of its South San Francisco facilities. The job cuts are expected to be permanent.
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JLL published its JLL 2020 U.S. Life Sciences Outlook, which ranks and tracks the progress of life sciences markets, particularly in how they relate to real estate development.
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DBV Technologies, located just outside Paris, announced it is cutting jobs while it awaits news from the U.S. Food and Drug Administration (FDA) about its application for Viaskin Peanut.
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According to a brief report by Reuters, the drug company plans to hold meetings with staff representatives tomorrow and Monday of next week to describe a restructuring plan, according to four sources familiar with the matter.
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Lundbeck stated that it is optimizing its research and development organization to strengthen and advance its pipeline.
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The restructuring is related to the planned divestiture of Intrarosa (prasterone) and Vyleesi (bremelanotide injection) and the impact of the COVID-19 pandemic.
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The culling of one-fourth of its employees is expected to save the company approximately $125 million through the end of 2021.