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Restructuring

Finance Watch: Sarepta’s Debt Woes Grow With Elevidys Shipment Pause

Public Company Edition: Sarepta restructured after stopping shipments of its Elevidys for some patients to ease future debt pressures, but now it has stopped shipments to all patients. Also, Madrigal secured up to $500m in new debt, Cogent closed a $230m offering and other financings.

Sarepta Restructures, Cuts 500 Jobs As Elevidys-Related Deaths Impact Sales

After a second quarter of declining Elevidys sales following two deaths of DMD patients treated with the gene therapy, Sarepta is cutting costs to fund remaining programs and meet debt requirements.

Finance Watch: Karyopharm Cuts Jobs In Cash Crunch; Pacira’s Layoffs Attributed To Efficiency

Restructuring Edition: Karyopharm is reducing its workforce by 20% as it seeks alternatives to extend its cash runway, but Pacira’s production improvements created efficiency that necessitate an 8% layoff in manufacturing. Jasper, Century, Sage, Leap and Prothena also cut jobs.

BIO Finance Trends: Drug Developers Face Harsh Realities As Funding Constraints Continue

Financial markets were expected to loosen up in 2025, but BIO convention attendees indicated that conditions have worsened this year, so public and private firms are making tough choices.

Vor Is Reborn With New CEO And Ambitious RemeGen Autoimmune Pact

The biotech had been looking at options to survive since May.

Finance Watch: Scorpion Spinout Antares Launches With $177m For Precision Medicines

Private Company Edition: Antares’ lead asset will enter the clinic in 2026 after Lilly committed up to $2.5bn for Scorpion’s Phase I/II PI3Kα inhibitor STX-478. Also, Amplify raised $200m for its first biotech VC fund and Mosanna raised an $80m series A round, among other financings.

Finance Watch: Insmed Cashes In On Positive Data With $750m Offering

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

Finance Watch: Vera Raises Debt, Taysha And Trevi Price Offering After Big Trial Wins

Public Company Edition: Public company funding in 2025 is down from 2024, but after recent positive data readouts Vera accessed up to $450m in new debt, while Taysha and Trevi grossed $200m and $100m, respectively, in stock offerings. Meanwhile, Keros, Stealth and others cut jobs.

All Over For iTeos But Applause For Plan To Return Cash Fast

The company has moved quickly to wind down operations after its anti-TIGIT pact with GSK collapsed.

Sweden’s Hansa Slims Down Ahead of Key Readouts

New CEO Renée Aguiar-Lucander is marking her mark.

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

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

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