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Finance Watch: 2Q Brings Cost Cuts, Strategic Reviews For Many Biotechs

 
• By Mandy Jackson

Peregrine, Ardelyx, Egalet and others reduced expenses and sought alternatives in the second quarter. Also, cell and gene therapy investment rises, FibroGen priced a $326m offering and Unity increased its Series B by $35m.

Finance Watch

A lot of biopharmaceutical companies are raising money right now, but some are cutting costs to preserve the cash they already have, and recent second quarter earnings reports and other announcements revealed belt-tightening going on among certain biotechnology firms.

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