1. Scrip
  2. >>Business
  3. >>Financing

Sweden’s Alligator Makes Cuts To Avoid Extinction

 
• By Kevin Grogan

The company’s CD40 agonist mitazalimab has impressed in Phase II trials as a potential treatment for pancreatic cancer but with no partner in place yet and a lack of funds, Alligator has to cut 70% of its staff to keep going.

alligator
• Source: Shutterstock

Cash-strapped Alligator Biosciences is reducing its workforce and early-stage activities to put all its focus on preparing its pancreatic cancer candidate, mitazalimab, for Phase III trials.

The Swedish biotech said that plans to “adjust the size of its organization and scope of operations” reflected “current capital restraints” and may result in a reduction of approximately 70% of the current workforce

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 Financing

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.

Affimed’s ASCO ‘Hail Mary’ As Survival Chances Slim

 
• By Kevin Grogan

The German biotech has been forced into insolvency and NASDAQ suspension.

Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

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.

More from Therapy Areas

In Brief: Tourmaline Reports Positive Topline Phase II Results for Pacibekitug In CKD

 
• By Sushmita Panda

Based on first positive results for any quarterly IL-6 inhibitor, company plans to initiate Phase III cardiovascular outcomes trial.

Japan Pharma Sees US Revenues Grow But Policy Impact Still Unclear

 
• By Lisa Takagi

Japanese majors put in generally solid performances in the fiscal year ended 31 March, but overseas revenues and forex effects, rather than the domestic market, provided most of the growth.

Boehringer’s Next Generation IPF Drug Underwhelms

 
• By Andrew McConaghie

The company hoped its follow-up to blockbuster Ofev could clearly improve efficacy and safety benefits, but the full Phase III results from nerandomilast’s FIBRONEER-IPF fall short of a slam dunk.