1. Scrip
  2. >>Business
  3. >>Financing
  4. >>Finance Watch

Finance Watch: Generation Bio, CytomX Right-Size Operations Ahead Of J.P. Morgan

Recent Financings: uniQure, Aadi, Soleno, RAPT

 
• By Mandy Jackson

Public Company Edition: Drug developers usually lead up to the J.P. Morgan Healthcare Conference by announcing new financings and partnerships, but multiple companies revealed strategic shifts and layoffs ahead of the industry’s annual kickoff meeting.

Finance Watch Public Company
• Source: Alamy

Public biopharma companies usually spend the week before the J.P. Morgan Healthcare Conference announcing new financings, partnerships and sometimes data so that they have compelling milestones to discuss with investors at the annual meeting. A few firms took a different approach in the lead up to the meeting, however, announcing restructuring plans, including shifts in research and development priorities and job cuts.

While restructuring plans and searches for “strategic alternatives” usually signal that companies are running out of cash, shifts in focus and realigned resources also should signal that drug developers will...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Finance Watch

Finance Watch: SV Closes Second Dementia Discovery Fund, Exceeding $250m Goal

 
• By Mandy Jackson

Private Company Edition: SV Health Investors revealed the final closing of its second Dementia Discovery Fund. Also, Eikon cut nearly 15% of its staff, Pathos AI raised $365m in series D venture capital and CellCentric completed a $120m series C round, among other financings.

Finance Watch: Prime, Kyverna, Allogene And More Announce Job Cuts

 
• By Mandy Jackson

Restructuring Edition: Prime Medicine ended its sole clinical-stage program to prioritize preclinical and partnered programs, cutting 25% of its workforce to extend its cash runway. Meanwhile, earnings season brought workforce reductions at Kyverna, Allogene, Leap and others.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

More from Scrip

Sanofi Makes Alzheimer’s Bet With Vigil Buy

 
• By Kevin Grogan

The French drugmaker is expanding its neurology activities with the $470m deal.

New Vaccine Framework Avoided Worst-Case Scenario, Analysts Say

 
• By Joseph Haas

The new US FDA vaccine guidelines introduced on 20 May might cause financial woes for Moderna, but overall vaccine makers should not be as impacted as feared.

Genentech, Orionis Stick Together In Second Molecular Glue Deal

 
• By Alaric DeArment

Deal Snapshot: Orionis and Genentech signed a new partnership focused on molecular glues, on top of the one that they struck in 2023.