Palisade Bio is laying off 20 percent of its workforce, the company announced Thursday. The cost-saving measures are expected to amount to over $1.5 million per annum.
Rubius is undertaking another restructuring focused on its Red Cell Therapeutics technology that will result in the termination of 75% of its staff and a return to a preclinical starting board.
Novartis has had a busy few days, announcing plans to shutter a Sandoz plant, a $300 million infrastructure investment, and Cosentyx, Kisqali and Tislelizumab readouts.
Thousands of FDA employees may lose their jobs if Congress doesn’t reappropriate funding currently in place by the end of the month.
Finch announced that it is slashing its headcount by around 37% and suspending its planned Phase I study in autism a week after Takeda withdrew from its multi-year collaboration.
In an SEC filing, Zymergen revealed it was cutting 80 more jobs and parting with Zach Serber, its co-founder and chief scientific officer.
Layoffs at Atara have begun weeks after the Bay Area company announced plans to terminate 20% of its staff under a new corporate strategy focused on the innovation within the company’s pipeline.
Of the 1,400 jobs Novartis plans to eliminate in Switzerland, about half will include leadership and management positions, the company reported Monday.
Biogen expects to lay off a potential 1,000 staffers in an effort to cut about $1 billion in costs, according to The Boston Globe, while 10x Genomics and Talis Biomedical also cut staff.
Assembly Biosciences and X4 Pharmaceuticals have announced significant layoffs and reprioritization endeavors to let go of underperforming initiatives.
The Bay State, home to the busy bio-hub Genetown, is experiencing some growing pains. Companies like Biogen and Eisai (H3 Biomedicine) are reducing their headcount.
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.
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.
Heron Therapeutics and Avadel Pharmaceuticals have now joined the ranks of life sciences companies cutting costs including laying off a significant number of employees.
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.
