With investors closely watching how biopharmaceutical companies are spending the cash they have on hand so that they do not run out of money in a tough fundraising environment, even firms with revenue-generating products and freshly raised capital are cutting back, such as Ferring Pharmaceuticals.
Finance Watch: Ferring Shutters San Diego R&D Site As Even Money-Making Firms Cut Costs
Searches For Strategic Alternatives, Workforce Reductions Ongoing Broadly
Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.
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