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Finance Watch: Restructurings, Layoffs Reflect Ongoing Uncertainty In Biotech

Even Pharma Feels Pinch As Astellas Takes Losses

 
• By Mandy Jackson

Sio Gene, Genocea, Solid Biosciences, Saniona and Black Diamond join First Wave, Zosano, Vallon, Finch, Magenta, ProQR and Imara on the growing list of biopharma firms reducing headcount to make their cash last until valuations return to a level that may support new fundraising. 

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Restructuring announcements and plans to lay off significant numbers of employees unfortunately have become the norm rather than the exception in 2022 as biopharmaceutical company stock prices sink and firms look for ways to conserve cash on hand.

For Sio Gene Therapies, Inc., the latest strategic shift could spell the end of a company that already has changed directions many times before. Genocea Biosciences, Inc., which...

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