CLINUVEL will cut up to 20% of staff, relocate HQ to New York

News Job Trends Layoff Tracker: CLINUVEL will cut up to 20% of staff, relocate HQ to New York July 23, 2026 | 69 min read | BioSpace Editorial Staff Twitter LinkedIn Facebook Email Print Follow along as BioSpace tracks job cuts and restructuring initiatives. Below is a look at which companies are tightening their belts and cutting staff in 2026. For last year’s tracker entries, please visit the 2025 recap article. To see which biopharmas laid off employees in the years prior to 2025, check out our 2023 and 2024 recaps.Know about a layoff happening in biopharma? Feel free to contact Angela Gabriel at angela.gabriel@biospace.com. Clinuvel PharmaceuticalsJuly 23As part of a strategic reorganization to focus operational resources on the U.S. market, CLINUVEL Pharmaceuticals will cut its global workforce by 10% to 20%, the company announced Thursday. CLINUVEL had 104 employees as of June 15, according to an SEC filing, meaning the layoffs could affect as many as 21 employees.The biopharma, which develops therapies for patients with genetic, metabolic and dermatological disorders, will relocate its headquarters from Australia to New York at the start of 2027. The move is meant to boost CLINUVEL’s regulatory engagement and commercial partnerships, according to the announcement. Regarding commercialization, the company noted that its late-stage programs, especially in vitiligo, are primarily targeted at the U.S. patient population, which it estimates at approximately 6 million affected.CLINUVEL’s workforce reduction reflects a necessary realignment of operating expenditure with current revenue generation and near-term clinical and commercial priorities, according to the announcement. The company also highlighted that the restructuring is a prerequisite to unlocking deeper, more liquid capital pools in the U.S.EMD SeronoJuly 13EMD Serono, the U.S. healthcare unit of Germany’s Merck KGaA, may cut up to 70 employees who report to its EMD Serono Research & Development Institute site in Billerica, Massachusetts. Effective in early September, the company will require those R&D staffers to work in the office at least three days per week, which could result in some resigning and receiving severance offers, according to a Worker Adjustment and Retraining Notification (WARN) Act alert for the state.Remote employees living more than 50 miles from the Billerica site have been given the option to commute to work from their residence, relocate closer to the institute with company-provided relocation support or resign. EMD Serono expects the effective dates for those who choose the third option will be Sept. 4 but noted that due to business needs, some will have a later separation date.The company previously laid off workers in January, though it kept the exact number of affected people under wraps. This headcount reduction round affected its research workforce in Durham, North Carolina.EMD Serono’s parent Merck KGaA posted a 2.9% year-on-year growth in the first quarter to bring in €5.1 billion (around $5.83 billion) worldwide. Its healthcare business, which covers drug development and medical devices, earned €2.1 billion ($2.4 billion), a 3.4% decline from the previous year.Correction: BioSpace updated this entry July 13 after receiving the full WARN notice, which clarified the layoffs were not a certainty for all 70 employees and that any cuts would result from staffers resigning. BioSpace regrets the error.NovartisJuly 8In its largest round of layoffs this year, Novartis is trimming its East Hanover, New Jersey, workforce for a fourth time, letting go of 322 employees and bringing the total number of affected people at that location to 572. The cuts are effective Oct. 2, according to a Worker Adjustment and Retraining Notification (WARN) Act notice.The first three rounds of layoffs at the Swiss pharma’s East Hanover location were disclosed in March, April and May, affecting 114, 60 and 76 employees, respectively. All cuts are effective this year.In total, Novartis has announced or disclosed in 2026 that it is letting go of at least 792 employees. In May, the pharma confirmed to BioSpace it is laying off a “select number” of staff within its biomedical research association. That same month, the company announced it will shut down a production site in Wehr, Germany by the end of 2028, eliminating 220 jobs. Job Trends Novartis slashes New Jersey workforce again, cutting 322 employees With the latest layoffs, Novartis expects to let go of around 800 employees by the end of 2028. More than half of the cuts have been at the company’s East Hanover, New Jersey, location. July 7, 2026 · 1 min read · Angela Gabriel Read more GenentechJuly 6The extent of Genentech’s June cuts has become clearer. The South San Francisco–based biotech is laying off 103 people at its headquarters effective July 29, according to a Worker Adjustment and Retraining Notification (WARN) Act notice dated June 26 and processed July 1.The cuts affect not only Genetech’s research and early development group (gRED), as reported last month, but also other parts of the business, according to a company statement emailed to BioSpace.“It is important to emphasize that most of these are focused adjustments within Genentech impacting a small proportion of the organization, and we continue to hire within Genentech, including gRED,” the statement noted. “Our hiring approach reflects the capabilities, expertise, and areas of science that are most critical to advancing our portfolio and delivering transformative medicines to patients now and in the future.”The June adjustments included the departure of high-profile executive Vishva Dixit, who had been with Genentech since 1997. He most recently served as vice president and senior fellow, physiological chemistry, research biology. Layoffs Genentech R&D layoffs hit top exec who’s been with the biotech nearly 30 years The staffing changes will focus resources on work that creates the highest impact for patients, according to Genentech. The number of employees affected is unknown, but longtime veteran Vishva Dixit is out. June 11, 2026 · 1 min read · Angela Gabriel Read more BioNTechJuly 6BioNTech will shutter Berlin-based subsidiary JPT Peptide Technologies by the end of this year, affecting around 140 positions, as it sharpens focus on growing its late-stage oncology pipeline, according to a quarterly report. JPT is a contract manufacturing company specializing in peptide-based products and services.Germany-based BioNTech is also shutting down manufacturing facilities in Idar-Oberstein and Marburg, Germany, and CureVac’s sites in Germany and abroad by the end of next year and a Singapore facility by Q1 2027. Those closures will affect about 1,860 jobs.Editor’s note: BioSpace updated this entry July 6 after receiving a response from BioNTech regarding the JPT closure, including why the site is shuttering. Layoffs BioNTech moves to close multiple manufacturing plants, affecting 1,860 jobs The action affects BioNTech sites in Germany and Singapore, where the company expects to have excess capacity. May 5, 2026 · 2 min read · Nick Paul Taylor Read more BioCrystJune 29BioCryst is moving away from internal discovery work, a strategic shift that includes shuttering an Alabama site by the end of 2026. A company spokesperson declined to comment on how many employee roles will be impacted by the shutdown. Instead of working on its own discovery programs, BioCryst said it will focus on external innovation.“We are committed to supporting everyone affected through this transition,” the spokesperson told BioSpace on June 29. “Our commercial business and clinical programs are unaffected and continue as planned.” The impacted location is BioCryst’s Discovery Center of Excellence in Birmingham, Alabama. The strategic decision was made about a month after the company culled its diabetic macular edema candidate avoralstat that was being evaluated in a Phase 1b trial to focus on its rare disease pipeline.BiogenJune 26Biogen is letting go of a “small number of roles” within its research arm related to discontinued Apellis Pharmaceuticals programs, the company told BioSpace in an email. Biogen did not share specific figures related to the number of people it would be laying off. In March, the biopharma announced its $5.6 billion takeover of Apellis, delivering two approved medicines—Empaveli and Syfovre—and a team with the know-how to lay a path for the launch of Biogen’s own late-stage kidney candidate. “As part of the integration of Apellis, Biogen is conducting a comprehensive review of the former Apellis clinical & preclinical portfolio to further evaluate strategic fit,” a Biogen spokesperson told BioSpace. “As a result of this ongoing review, Biogen made the decision to pause or terminate investment in the majority of legacy Apellis pre-clinical programs,” the spokesperson added.ADC TherapeuticsJune 24After 27 deaths were reported in a clinical trial arm receiving its blood cancer drug Zynlonta, ADC Therapeutics is conducting a 17% workforce reduction.The Swiss biopharma employed 188 full-time workers and five part-time staffers as of Dec. 31, 2025, according to an annual filing, meaning the cuts will likely impact around 32 roles.The company said the cuts are designed to save $10 million per year, though the terminations will cost ADC Therapeutics around $3 million in severance, benefits and related expenses. The reorganization was prompted by the anticipated completion of the LOTIS-5 Phase 3 and LOTIS-7 Phase 1b trials for Zynlonta, according to the company. The anti-CD19 antibody-drug conjugate (ADC) won accelerated approval in 2021 for relapsed or refractory diffuse large B cell lymphoma (DLBCL) in third-line or later settings, and LOTIS-5 is supposed to serve as a confirmatory trial. But the trial, which tested Zynlonta plus rituximab, demonstrated no overall survival benefit. Additionally, 27 patients in the Zynlonta arm died, compared to nine deaths in the control group.Since the data drop, the biopharma’s stock has crashed 66%. Layoffs ADC Therapeutics lays off staff after 27 patient deaths mar Zynlonta readout After 27 deaths were reported in a group receiving its blood cancer drug, ADC Therapeutics is downsizing, implementing layoffs for about 30 workers. June 24, 2026 · 2 min read · Gabrielle Masson Read more Sangamo TherapeuticsJune 23In conjunction with filing for bankruptcy, Sangamo Therapeutics is laying off 51 people.The workforce reduction represents about 40% of the biotech’s team, according to an SEC filing. Sangamo is retaining 77 staffers who will continue work on programs and platforms that Eli Lilly and Astellas have placed stalking horse bids on, including a rare disease gene therapy that is in the process of being submitted for FDA review. Bankruptcy Lilly, Astellas circle Sangamo assets as biotech files for bankruptcy As Sangamo runs out of cash, Eli Lilly and Astellas have emerged as stalking horse bidders for key assets, including a Fabry gene therapy currently being submitted for potential FDA approval. June 23, 2026 · 3 min read · Gabrielle Masson Read more Tourmaline BioJune 23Tourmaline Bio said goodbye to 60 employees at its New York headquarters months after being swallowed by Novartis.The workforce reduction stems from the closure of a Tourmaline site at 27 West 24th in New York, according to a Workers Adjustment and Retraining Notification (WARN) alert for the state. The layoffs took effect May 29, though the notice was only posted last week.Novartis moved to acquire Tourmaline in September last year, putting around $1.4 billion on the line on a fully diluted basis, the pharma said at the time. The transaction closed in late October.Novartis has conducted several rounds of layoffs this year, including one that takes effect in August and will leave 76 New Jersey workers jobless. The pharma also announced in May that it would shutter a Germany facility by the end of 2028, which will affect 220 jobs. Novartis ran two other cycles of terminations—one in March and another in April—which together affected more than 170 staff in New Jersey.enGene TherapeuticsJune 16Genetic medicines developer enGene is halving its workforce in an attempt to save cash.As of October 2025, the biotech employed 82 full-time staffers, according to an annual report, meaning the cuts may impact more than 40 people.Alongside the 50% workforce reduction, three C-suite members are hitting the exits, according to a June 15 release. Ultimately, the company hopes to start a Biologics License Application (BLA) submission with the FDA in the second half of this year for its sole clinical candidate detalimogene voraplasmid. The non-viral gene therapy is being evaluated in the Phase 1/2 LEGEND trial for patients with non-muscle invasive bladder cancer. enGene is planning a potential commercial launch for next year. “To preserve shareholder capital as we await additional durability data and meetings with the FDA, we made the very difficult decision to downsize the organization to streamline operations,” enGene CEO Ron Cooper said in a prepared statement.Neumora TherapeuticsJune 16Neumora Therapeutics is discarding its most advanced drug candidate after two late-stage fails, prompting the biotech to lay off 35% of its workforce in an effort to save cash.As of the end of last year, Neumora had 96 full-time employees, according to the company’s annual filing, meaning the cuts could affect more than 30 employees. More than half of the biotech’s staff is primarily engaged in R&D.The reduction, which is expected to occur in the second and third quarters of this year, is projected to save the company around $10 million annually.GenentechJune 12Genentech has made changes to its research and early development group (gRED) that include parting ways with a high-profile executive who had been with the company since 1997. The South San Francisco–based biotech confirmed to BioSpace the “targeted adjustments” and departure of Vishva Dixit, who most recently served as vice president and senior fellow, physiological chemistry, research biology.The restructuring is intended to ensure the Roche subsidiary’s capabilities and investments align with its core therapeutic areas, advance its portfolio and deliver transformative medicines to patients faster, according to Genentech. A spokesperson declined to share specific information about the layoffs, including how many employees were affected.Endpoints News reported that Genentech is closing infectious disease and physiological chemistry units while downsizing other teams. Also, in addition to Dixit, other key departures include Todd McDevitt, vice president and head of cell therapy, and Man-Wah Tan, a vice president and senior fellow of infectious diseases, the media outlet reported. Layoffs Genentech R&D layoffs hit top exec who’s been with the biotech nearly 30 years The staffing changes will focus resources on work that creates the highest impact for patients, according to Genentech. The number of employees affected is unknown, but longtime veteran Vishva Dixit is out. June 11, 2026 · 1 min read · Angela Gabriel Read more Teva PharmaceuticalsJune 11Teva Pharmaceuticals is letting go of 250 employees from its active pharmaceuticals ingredient (API) division, according to various media reports. The cuts will take place over the next two years and affect employees in Israel, according to domestic news outlet Globes.Teva’s API unit has around 4,100 employees worldwide, including 650 in Israel. In January 2024, Teva revealed it planned to divest its API business to allow the overall company to “maximize current and potential revenue streams.”In October 2025, Teva was reportedly in advanced negotiations for the sale of the API unit, according to European Pharmaceutical Review. A month later, the company said talks with the selected buyer were terminated.Fulcrum TherapeuticsJune 10Just days after announcing it was exploring strategic alternatives for the business after ending development of its lead asset, Fulcrum Therapeutics is cutting 85% of its workforce, according to an SEC filing. The Cambridge, Massachusetts–based biotech will lay off 48 of its 57 employees as part of a restructuring plan approved May 31 meant to significantly reduce operating expenses and preserve capital. Fulcrum informed staff on June 4.The company announced June 1 it is discontinuing development of pociredir in sickle cell disease, as it no longer sees a viable regulatory path for the drug. Fulcrum noted that the FDA had recently raised concerns regarding pociredir’s benefit-risk profile in that indication.The biotech expects to mostly complete its layoffs during the second quarter. Fulcrum estimated it will incur about $4.2 million in costs in connection with its restructuring plan, consisting mostly of severance, benefits and related expenses. Sickle cell disease Fulcrum lays off 85% of staff after dropping asset, leaving 9 employees After discontinuing development of its lead asset, Fulcrum Therapeutics has provided more details on its restructure, with 48 of 57 employees headed out the door. June 5, 2026 · 2 min read · Tristan Manalac Read more MerckJune 2Merck is again sending employees packing in Rahway, New Jersey. The pharma is laying off 88 employees at its location there effective Sept. 4, according to a Worker Adjustment and Retraining Notification Act notice. Last year, Merck disclosed it was letting go of 262 employees in Rahway over two rounds of cuts, one of which took effect this year.In August 2025, the pharma divulged it was laying off 58 people at that site on Nov. 14. The news came shortly after Merck confirmed that its $3 billion cost-cutting move could affect about 6,000 employees as part of a multiyear process. In November, the pharma disclosed it would let go of 204 staffers in Rahway from Feb. 20 through May 11.In February 2026, Merck then disclosed in a WARN notice that it would lay off 154 employees in Durham, North Carolina, on May 1.Johnson & JohnsonMay 27New Jersey’s job market is taking another hit, this time from pharma giant Johnson & Johnson, which is parting ways with 56 employees in New Brunswick, according to a Worker Adjustment and Retraining Notification (WARN) Act posting for the state. The layoffs will take effect on August 21.This is J&J’s first announced workforce reduction of this year, according to a tally by BioSpace. But the pharma has for years been constantly reshaping its business to accommodate the loss of exclusivity of its autoimmune disease powerhouse Stelara—a campaign that has involved cutting back investments in other parts of its business, while putting more money into higher-value areas like cancer.Other Big Pharma players to recently slash their New Jersey headcounts include Novartis, Bristol Myers Squibb and Novo Nordisk.NovartisMay 22Novartis is continuing to trim its workforce in the U.S., letting go of 76 employees in East Hanover, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) Act alert for the state. The layoffs will take effect on Aug. 21.This will be the third time this year that Novartis downsized its New Jersey operations. The first batch of layoffs was announced in March, affecting 114 employees set to take effect from June 26 through Nov. 27. The second hit came a month later, with 60 jobs projected to be cut from July 24 through Nov. 20.Novartis earlier this month also announced that it would close down a production site in Germany by the end of 2028, eliminating 220 jobs in the process.AbbVieMay 22AbbVie’s operations in Irvine, California, will be 85 employees leaner after July 20, with layoffs projected to take place on that date, according to a Worker Adjustment and Retraining Notification (WARN) Act alert.The pharma has over 40 open posts available in California, including data science and biologics product development listings. A recent BioSpace report found that AbbVie CEO Robert Michael saw a 76% pay bump, with his total compensation package reaching $32.5 million last year as compared to $18.5 million in 2024.As per BioSpace’s tally, this is the first time AbbVie has announced layoffs this year.NovartisMay 15Novartis is letting go of “a select number” of employees within its biomedical research organization, a company spokesperson confirmed to BioSpace in an emailed statement.“Novartis continually assesses opportunities to support our growth strategy as a focused innovative medicines company,” the statement read. “We regularly evaluate our organizational setup to ensure it remains aligned with evolving priorities.”The cuts are the latest in a series of made or projected layoffs at Novartis this year that in total affect nearly 400 employees. Earlier this month, the Swiss pharma announced plans to shutter a production facility in Wehr, Germany, by the end of 2028. Novartis expects that closure will eliminate 220 jobs. In March and April, the pharma disclosed between two Worker Adjustment and Retraining Notification (WARN) Act notices that it will let go of 174 employees in East Hanover, New Jersey. Of those cuts, layoffs affecting 114 people are effective June 26 through Nov. 27, while those impacting 60 staffers run from July 24 through Nov. 20.TakedaMay 15To cut back on costs, Takeda is rolling out a sweeping “transformation program” that will streamline corporate operations and see some 4,500 employees let go in fiscal year 2026, according to an earnings presentation. That number represents less than 10% of total roles globally and does not reflect hiring plans, a company spokesperson told BioSpace in an emailed response on May 13.“Right now, we have 2,200 open roles globally and we expect to create new jobs throughout the year, which we are prioritizing filling with internal candidates,” the spokesperson said.The layoffs will look different across the organization and will be phased according to unique business needs and country requirements, according to the spokesperson. They confirmed that the cuts include an estimated 247 roles in Massachusetts and 387 in other states outlined in a March Worker Adjustment and Retraining Notification (WARN) Act notice. Layoffs Takeda’s ‘transformation program’ leaves 4,500 jobless While Takeda is eliminating 4,500 roles across its global operations, the company has some 2,200 jobs currently open for hiring, for which internal candidates will be prioritized. May 14, 2026 · 2 min read · Tristan Manalac Read more ValnevaMay 14Specialty vaccine maker Valneva will trim its global workforce by 10% to 15% as it focuses resources on its base business and key strategic projects, the biotech announced May 13. The France-based company had 674 employees globally, including 22 in Bethesda, Maryland, as of Dec. 31, according to an SEC filing, meaning the layoffs could affect roughly 67 to 101 people.Valneva expects the cuts will reduce 2026 operating expenses by 25% to 35% when compared to 2025.The restructuring comes as the biotech reports a Q1 revenue decline. Total revenue was 30.9 million euros ($36.1 million), down from 49.2 million euros ($57.6 million) in the first quarter of 2025. Valneva attributed the dip in part to a planned winddown of third-party sales. The company also noted it is adjusting down its 2026 sales and revenue guidance in part because of “an emerging adverse trend in travel vaccine uptake across key markets, driven by geopolitical factors.” Valneva is revising the product sales guidance range from between 145 million euros and 160 million euros ($170 million to $187 million) to between 135 million euros and 150 million euros ($158 million to $174 million).Valneva’s last known restructuring was in 2025. The biotech announced in November it would shutter its Nantes, France, site and consolidate operations in Lyon. That move left 30 employees jobless, a spokesperson told Fierce Biotech at the time. Vaccines Pfizer ‘Confident’ in Valneva-Partnered Lyme Vaccine Despite Missed Primary Endpoint The multivalent candidate, being developed by Pfizer and French partner Valneva under a 2020 pact, generated higher than 73% efficacy against the tick-borne disease in a Phase 3 trial—but failed to hit a predetermined confidence interval. March 23, 2026 · 2 min read · Heather McKenzie Read more Amicus TherapeuticsMay 13Just two weeks after being completely absorbed into BioMarin Pharmaceutical, Amicus Therapeutics is letting go of 58 employees from its headquarters in Princeton, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) alert for the state. The layoffs will start on Aug. 7 and will run through Oct. 30 of this year.A company spokesperson confirmed to Fierce Pharma that the job cuts are linked to the BioMarin acquisition. “As with any integration of this scale, we are carefully evaluating how to align our long-term success,” the spokesperson said. “This process has resulted in headcount reductions, particularly in areas where there is overlap.”BioMarin moved to acquire Amicus in December 2025 for $4.8 billion. Gilead SciencesMay 8In the wake of closing its $7.8 billion Arcellx acquisition last week, Gilead Sciences is gutting the biotech’s workforce in California and Maryland, laying off 192 employees total. Given Arcellx had 220 employees as of March 1, according to an SEC filing last month, the cuts are likely wiping out 87% of the staff.The largest cuts are happening at the biotech’s headquarters in Redwood City, California. Gilead is letting go of 108 employees at that site effective June 30, according to a Worker Adjustment and Retraining Notification (WARN) notice. The pharma is also laying off 84 people in Rockville, Maryland. Those cuts are taking place over a longer period, from June 30, 2026, to April 30, 2027, according to a WARN notice.Both notices were dated April 30, two days after Gilead announced it had completed its acquisition of Arcellx, making the biotech a wholly owned subsidiary. Layoffs Gilead wipes out most of Arcellx workforce Gilead is laying off Arcellx employees in California and Maryland, with some cuts effective this year and the remainder happening in 2027. May 7, 2026 · 1 min read · Angela Gabriel Read more NovartisMay 8Novartis plans to close a production facility in Wehr, Germany, by the end of 2028, a move that’s expected to eliminate 220 jobs, the Swiss pharma announced May 5.The site, which makes solid oral dosage forms such as tablets and capsules for mostly established Novartis products, is no longer competitive, the company noted in its announcement. Novartis said it remains committed to Germany as a business location.The pharma is investing 35 million euros (about $41 million) into a new production facility for radioligand therapies in Halle, Germany. The site will produce personalized cancer therapies for patients in Germany and should be operational in 2027, according to the announcement.Gilead SciencesMay 6After closing its $7.8 billion takeover of Arcellx last week, Gilead Sciences is now letting go of 108 employees at the biotech’s headquarters in Redwood City, California, according to a Worker Adjustment and Retraining Notification (WARN) alert for the state. The layoffs will take effect on June 30.Arcellx had 220 employees as of March 1, according to a securities filing last month, indicating that Gilead’s cuts will nearly halve the biotech’s workforce.Gilead and Arcellx are long-time partners. The companies joined hands in December 2022, with the pharma paying $225 million upfront alongside a $100 million equity investment in the biotech. The deal was focused on Arcellx’s late-stage CAR T therapy—the asset that would later be named anito-cel—for the treatment for relapsed or refractory multiple myeloma. Gilead at the time pledged up to $3.9 billion in milestones.BioNTechMay 6BioNTech has outlined plans to close multiple manufacturing facilities by the end of next year, affecting about 1,860 jobs.The German biotech intends to shutter three facilities in its home country. BioNTech’s Idar-Oberstein, Marburg and Tübingen sites are scheduled for closure by the end of next year. As previously disclosed, the biotech is also exiting a manufacturing facility in Singapore. BioNTech expects to conclude operations at the Singapore facility by the first quarter of next year.Efforts to consolidate the manufacturing network are focused on sites where capacity will become idle or underused within 24 months, BioNTech CFO Ramón Zapata said on the company’s first-quarter earnings call on May 5. BioNTech is exploring divestment options, including partial and total sales of the plants. Layoffs BioNTech moves to close multiple manufacturing plants, affecting 1,860 jobs The action affects BioNTech sites in Germany and Singapore, where the company expects to have excess capacity. May 5, 2026 · 2 min read · Nick Paul Taylor Read more Passage BioMay 5Shortly after announcing that the FDA will require a specific registrational trial design for its lead drug candidate in one target indication, Passage Bio disclosed that it will cut about 75% of its workforce to reduce operating expenses. The Philadelphia-based biotech had 24 employees as of Dec. 31, according to an annual report, meaning the layoffs could affect around 18 people.Passage, which focuses on developing genetic medicines to treat neurodegenerative diseases, expects to mostly complete the workforce reduction in the second and third quarters, according to an April 28 SEC filing. The biotech projects severance and exit costs will be about $3.3 million.On April 20, Passage announced the outcome of a recent Type C meeting with the FDA regarding the design of a future registrational trial for PBFT02 for the treatment of frontotemporal dementia with granulin mutations (FTD-GRN). Will Chou, the company’s president and CEO, said the agency did not support a single-arm trial design and instead will require a randomized controlled trial. Layoffs Passage cuts 75% of workforce after FDA trial design request Passage Bio, which has been working toward a registrational trial for a drug candidate whose indications include frontotemporal dementia, is exploring strategic alternatives in addition to cutting staff. May 4, 2026 · 1 min read · Angela Gabriel Read more Reckitt BenckiserMay 1After sustaining a 0.9% decline in North America sales in the first quarter, U.K.-based Reckitt Benckiser is letting go of 57 people from its office in Nutley, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) Act alert for the state. The layoffs started this March and will run until March next year.Also in March, Reckitt trimmed its New Jersey workforce at its Parsippany site, letting go of 62 employees. Those layoffs will be conducted through August.Reckitt is known for products like the expectorant Mucinex, the lozenge brand Strepsis and the nonsteroidal anti-inflammatory medicine Neurofen.Autolus TherapeuticsApril 30In a move aimed at improving operational efficiency and cutting costs, London-based Autolus Therapeutics is letting go of about 13% of employees, the company announced April 29. The biotech, which develops autologous CAR T therapies, did not identify which locations the workforce reduction will affect but noted that it will impact all areas of the business. Autolus has a U.S. presence through its Gaithersburg, Maryland, office.While the company said it’s cutting 13% of the workforce, it also noted that the reorganization includes “employee-related actions taken beginning in the second half of 2025.” When asked to clarify that statement, a spokesperson told BioSpace in an email that some employees were let go in the second half of last year, but “the number didn’t rise to the level of ‘material’ thus there was no announcement.” Those cuts, they added, count as part of the 13%.The spokesperson did not identify how many people were laid off in the second half of last year. Autolus had 752 employees as of Dec. 31, according to its 2025 annual report.Autolus plans to mostly complete the latest cuts by the third quarter and to save about $15 million on an annualized basis beginning in 2027, according to the announcement. The biotech expects its current and projected cash, cash equivalents and marketable securities will fund operations into the fourth quarter of 2027. Autolus had cash and cash equivalents of $104.1 million and marketable securities of $196.6 million as of Dec. 31, according to its annual report.NovartisApril 28For the second month in a row, Novartis is chipping away at its East Hanover, New Jersey, workforce. The Swiss pharma is laying off 60 employees in the city effective July 24 to Nov. 20, according to a Worker Adjustment and Retraining Notification Act (WARN) notice. Novartis is also letting go of 114 people in East Hanover from June 26 to Nov. 27, according to a March WARN alert.Novartis also trimmed its workforce in 2025, putting 1,069 employees—including 485 in East Hanover—on the chopping block over a multiyear period. The largest round of layoffs involved 550 employees in Switzerland who will be out of work by the end of 2027.Tempero BioApril 24On the heels of a serious adverse event in a Phase 2 alcohol use disorder trial of its lead drug candidate, Tempero Bio is shutting down, Endpoints News has reported. The Oakland, California–based biotech’s CEO, Paul Johnson, told Endpoints he could not provide details about what happened with the study of TMP-301, which was being developed to address the neurobiological basis of addiction.Tempero, which has between two and 10 employees, according to its LinkedIn page, launched following a 2020 partnership between investment firm Aditum Bio and Soshei Heptares, now Nxera. Aditum was co-founded by Joe Jimenez, a former Novartis CEO, and Mark Fishman, who once headed up the pharma’s research and development hub, Novartis Biomedical Research.The biotech made a significant funding announcement roughly a year ago. In March 2025, Tempero shared it had raised $70 million in Series B financing to develop therapies for substance use disorders. The company said it would use the funds in part to push TMP-301 through two Phase 2 clinical trials for alcohol- and cocaine-use disorders.ReplimuneApril 22Replimune’s path forward following the FDA’s second rejection of advanced melanoma drug RP1 includes cuts affecting 224 employees in Massachusetts, according to Worker Adjustment and Retraining Notification Act (WARN) notices. Most of the layoffs are hitting the biotech’s Woburn headquarters.The first cuts in Woburn involved 63 employees, with terminations effective April 13–24, according to a notice dated April 13. On April 17, two more WARN alerts outlined further layoffs: 81 people in Woburn and 80 at Replimune’s manufacturing facility in Framingham. The latest rounds of cuts are effective April 17–24.Arleen Goldenberg, Replimune’s vice president of corporate communications, told Fierce Biotech the company will have 40% of its workforce left after the Massachusetts cuts are complete. Layoffs Replimune cuts will leave over 200 jobless in Massachusetts Replimune is axing 144 employees at its Woburn headquarters and 80 at its Framingham manufacturing site. The cuts follow the FDA’s second rejection of the biotech’s advanced melanoma candidate. April 21, 2026 · 1 min read · Angela Gabriel Read more Bristol Myers SquibbApril 20Bristol Myers Squibb is letting go of more employees at its Lawrenceville, New Jersey, location, according to a Worker Adjustment and Retraining Notification (WARN) Act notice for the state. This time, the pharma will part ways with 206 employees, with the terminations set to take effect from July 16 through Dec. 31.This is the second time that layoffs have come to BMS’ Lawrenceville operations—in February, the pharma let go of 247 staff in the area. The company’s corporate headquarters is located in Lawrenceville, as is an R&D facility. It is unclear if both offices are affected by the ongoing cuts.Lawrenceville also bore the brunt of BMS’ layoffs last year, with workforce reductions affecting 1,266 people total. WARN notices for the area in 2025 disclosed that 290 employees were booted in February, 516 in May, 68 in July, 282 in September and 110 in November. Effective dates for those cuts began last year, with some dates continuing into 2026.Astellas Pharma/Universal CellsApril 15Tokyo-based Astellas Pharma will close the Seattle office of Universal Cells, its wholly owned subsidiary that creates engineered, allogeneic stem cells, a move that will affect 50 employees. A handful of affected staffers’ positions will be moved to the pharma’s other research locations in South San Francisco, California, and Westborough, Massachusetts, according to a Worker Adjustment and Retraining Notification (WARN) Act notice.While the 50 employees are slated for layoffs, those who take internal transfer opportunities or roles with another Astellas corporate affiliate prior to their separation date won’t be let go as part of the cuts, according to the notice. The workforce reduction will be effective in multiple waves starting July 1, 2026, and ending April 1, 2028.A company spokesperson told BioSpace in an emailed statement that the pharma is consolidating cell and gene therapy and oncology research activities in Seattle into its South San Francisco and Westborough sites. Layoffs 50 employees impacted as Astellas closes Universal Cells’ Seattle office By closing the Universal Cells Seattle location, Astellas is reportedly consolidating cell therapy, gene therapy and oncology research at its South San Francisco, California, and Westborough, Massachusetts, sites. April 14, 2026 · 2 min read · Angela Gabriel Read more ReplimuneApril 14The FDA’s second rejection of melanoma drug RP1 has plunged Replimune into uncertainty, with the company’s likely path to recovery paved with job cuts, site closures and strategic alternatives.“We have no choice but to eliminate jobs, including substantially scaling back our U.S. based manufacturing operations,” Replimune CEO Sushil Patel said in a prepared statement April 10 in response to RP1’s rejection. It remains unclear how many employees will be affected by Replimune’s savings push, or when the layoffs might occur. Replimune faces “a challenging path forward,” BMO Capital Markets wrote in a note to investors on Friday afternoon.Replimune did not immediately identify which sites these layoffs will affect. The company is headquartered in Woburn, Massachusetts, and has locations in Framingham, Massachusetts, and the U.K. However, according to a subsequent Worker Adjustment and Retraining Notification Act notice, Replimune is letting go of 63 employees in Woburn effective April 13 to April 24.Editor’s note: BioSpace updated this entry April 15 to add the number of employees affected in Woburn, Massachusetts, which a Massachusetts WARN notice revealed after this entry’s original publication. Complete response letters Second rejection for tumor destroyer puts Replimune on a ‘challenging path’ Replimune’s CEO Sushil Patel has already warned that the biotech will need to cut staff and substantially scale back its U.S. manufacturing operations. April 13, 2026 · 2 min read · Tristan Manalac Read more BioNTechApril 6BioNTech is closing a Singapore production plant less than four years after buying the site from Novartis to supply mRNA vaccines and therapies in the Asia-Pacific region. Last week, the Germany-based company told The Straits Times that the planned Singapore site will close by February 2027. The cuts will affect about 60 employees, according to a quarterly report.The company, which framed the shuttering as part of efforts to align capacity with its pipeline and long-term strategic direction, also had layoffs last year. BioNTech let go of 63 employees in August in connection with closing its cell therapy facility in Gaithersburg, Maryland. Around the same time, news broke that it would lay off 90 employees across its U.S. footprint, including 32 people at its Gaithersburg office and lab space, effective in September 2025, and 58 in Cambridge, Massachusetts.Editor’s note: BioSpace updated this entry July 6 to update the number of employees BioNTech is laying off in Singapore based on information in a quarterly report that released after this entry published. Manufacturing BioNTech Starts Shuttering Singapore mRNA Manufacturing Site Amid Pipeline Pivot BioNTech envisioned the site making hundreds of millions of vaccines a year, but has since shifted its pipeline to other modalities while mRNA technology continues to face headwinds in the U.S. April 3, 2026 · 2 min read · Nick Paul Taylor Read more Gilead SciencesApril 3About a year after cutting staff at its Foster City, California, headquarters, Gilead Sciences is again trimming that workforce. The pharma is laying off 51 employees in the city effective May 29, according to a Worker Adjustment and Retraining Notification (WARN) Act notice. Last May, the pharma let go of 149 people at its headquarters.Gilead had multiple layoffs in 2025. In addition to cutting employees at its Foster City location, the pharma disclosed it would let go of 53 people at its Oceanside, California, site that supports clinical manufacturing and process development for the company and subsidiary Kite Pharma. Of the 53 staffers, 36 were laid off in August and 17 in January 2026.A Gilead spokesperson told Fierce Biotech the first set of cuts was due to a decision to co-locate the company’s biologics development and manufacturing teams with their research and development counterparts. That move included transitioning most of the biologics roles from Oceanside to Foster City.Gilead’s latest cuts follow two key deals for the pharma. In February, the company acquired Arcellx for $7.8 billion, giving it access to key asset anito-cel, Arcellx’s CAR T therapy under development for relapsed or refractory multiple myeloma. Last month, Gilead acquired Ouro Medicines in a deal that could exceed $2 billion in value includes Ouro’s pipeline of T cell engagers for inflammatory diseases.BiovectraApril 3Contract development and manufacturing organization Biovectra, a wholly owned subsidiary of Agilent Technologies, is cutting staff at its Prince Edward Island and Nova Scotia, Canada, locations, CBC/Radio-Canada reported March 27.Agilent told the media outlet the company is making targeted workforce adjustments that will affect less than 45 employees. The adjustments “reflect current market conditions while also enabling a more streamlined structure with clearer accountability and faster decision-making,” according to the statement.Agilent in 2024 acquired Biovectra, which is based in Charlottetown, Prince Edward Island, for $925 million. The deal boosted Agilent’s capabilities in producing biologics and oligonucleotide therapies.IO BiotechApril 2IO Biotech has called it quits, unable to regain its bearings from an FDA rebuff in September that prevented an approval submission for its investigational cancer vaccine. The Danish biotech on March 31 ceased operations, filed for Chapter 7 bankruptcy and terminated all of its employees, according to an SEC filing.In September, IO announced the FDA had told the company it did not have enough evidence to back a biologics license application for its cancer vaccine candidate Cylembio. The biotech noted it would halve its headcount, slimming its operations down to around 39 employees, BioSpace estimated at the time. Then, in January, IO implemented another round of cuts that it said would result in a “significant reduction” in force, though it did not specify how many people it would lay off. Company closure IO Shuts Down Following Regulatory Roadblocks The FDA advised IO Biotech last year to hold off on filing an approval application for its cancer vaccine Cylembio, pointing to a failed Phase 3 study in frontline advanced melanoma. The biotech has now gone under. April 1, 2026 · 2 min read · Tristan Manalac Read more Novo NordiskApril 1Novo Nordisk will part ways with around 400 employees at its manufacturing site in Bloomington, Indiana, as part of a broader restructuring initiative, Fierce Pharma revealed in a March 31 report, confirming the news with a company spokesperson.The layoffs will take effect “at the beginning of May,” the spokesperson added, noting that after the cuts, the production plant will be down to approximately 1,400 employees.The Bloomington facility came to Novo as part of a larger deal by the pharma’s parent company, Novo Holdings, to acquire the CDMO giant Catalent in early 2024 for $16.5 billion. The site, however, has since become a source of headache for Novo, with the FDA flagging persistent contaminations and infestations. These violations have resulted in the rejection of several drugs, including from Incyte, Scholar Rock and Regeneron.Novo announced a sweeping reorganization effort in September 2025, involving 9,000 layoffs across its global operations. Headcount reduction cycles that followed in the U.S. include one affecting 263 people in New Jersey late last year and another impacting 47 employees in North Carolina in October 2025.TakedaMarch 31The workforce impact of Takeda’s recently announced reorganization has become clearer. The Japan-based pharma estimates the restructuring may affect around 634 U.S. employees, according to a Worker Adjustment and Retraining Notification (WARN) Act notice.Takeda began notifying employees on March 25, the same day it announced a business transformation, which includes streamlining corporate functions. However, the company noted in the WARN notice that the total number affected could change as staff pursue and accept redeployment opportunities across its global network.Takeda’s cuts include 247 employees in Cambridge, Massachusetts, effective July 1, 2026, through Dec. 31, 2027, and 387 in other states. To understand where the other layoffs will take place, BioSpace has requested a copy of a document mentioned in the WARN notice that lists the number of individuals affected by state. Layoffs Takeda Restructuring Could Push More Than 600 US Staffers Out of Jobs Takeda’s layoffs include cutting 247 people in Massachusetts. The workforce reduction is meant to help offset investments in areas including a product launch for oral drug candidate zasocitinib, for which the pharma today announced positive Phase 3 data. March 30, 2026 · 2 min read · Angela Gabriel Read more NovartisMarch 31Novartis’ layoffs continue to roll on, this time affecting 114 people at the company’s East Hanover, New Jersey, site, according to a Worker Adjustment and Retraining Notification (WARN) alert for the state. The terminations will run from June 26 through Nov. 27. The WARN notice did not specify the reasoning behind the workforce reduction.Novartis has slimmed down its workforce several times in the past year. In mid-March 2025, for instance, the pharma let go of more than 460 employees, most of whom were working in the East Hanover site. Novartis again downsized in September that year, removing nearly 60 staff from the same location.Another cycle of layoffs took place in November 2025, this time putting 550 full-time positions on the chopping block and affecting its Switzerland workforce.EvonikMarch 30With the closure of a production plant in Havre DeGrace, Maryland, contract manufacturer Evonik is parting ways with 34 employees, according to a Worker Adjustment and Retraining Notification (WARN) alert. The layoffs will take effect from June 30 through the end of the year.Based in Germany, Evonik is a specialty chemicals producer that supplies silica for drugs and other products. The company first announced the closure of the Havre DeGrace site in January 2025, alongside the shutdown of another facility in Waterford, New York. The moves will help “enhance efficiencies,” Evonik said at the time.Aside from manufacturing, Evonik’s Maryland location also has an R&D center and laboratories. These are unaffected by the closure, the company announced in its January 2025 release.TakedaMarch 26Takeda is gearing up for a significant restructuring that includes streamlining corporate functions, although exactly how that move will impact employees is not yet known. In its March 25 announcement, the company did not say if the “transformation” will include workforce cuts. However, CEO-Elect Julie Kim referenced “strategically prioritizing resources and positioning ourselves for long-term growth and success in the next era.”Takeda expects the restructuring will save more than 200 billion yen—about $1.25 billion—by fiscal year 2028.The pharma let go of nearly 1,500 employees in the U.S. and Austria in 2024 and early 2025. Those reductions started in early 2024, around the same time Takeda announced a 57% drop in profit for the fiscal year ended March 31, 2024.Cuts continued last October, when news broke that Takeda was laying off 137 employees, a move connected to the company’s decision to stop investing in cell therapies as it reassessed pipeline priorities and worked to boost efficiency and productivity. Then in January of this year, news hit that the pharma was laying off 243 employees across its U.S. operations, mostly involving its neuroscience commercialization teams. A company spokesperson told the Boston Business Journal the cuts would help the business navigate its upcoming loss of exclusivity for Trintellix, a major depressive disorder drug.Correction (March 30): This entry has been updated to correct the amount of yen to 200 billlion. BioSpace regrets the error.Gossamer BioMarch 20After its disappointing late-stage readout in pulmonary arterial hypertension last month, Gossamer Bio has launched a sweeping cost-cutting campaign that will leave 77 employees—roughly 48% of its headcount—jobless. It expects to mostly complete the layoffs by the end of May.The cuts, revealed in an annual report on March 17, will help the company preserve cash as it figures out a way forward for its drug candidate, dubbed seralutinib, after the Phase 3 fail. Gossamer did not immediately identify which sites these layoffs will affect—the biotech is headquartered in San Diego but also has an office in Dublin. However, according to a subsequent Worker Adjustment and Retraining Notification Act notice, the company is letting go of 65 employees in San Diego effective May 15.Editor’s note: BioSpace updated this entry April 10 to add the number of employees affected in San Diego, which a California WARN notice revealed after this entry’s original publication. Layoffs Gossamer Nearly Halves Workforce in Savings Push After Late-Stage Hypertension Fail Gossamer Bio reported last month that its only late-stage candidate failed a Phase 3 study in pulmonary arterial hypertension, casting doubt on the asset’s future prospects. March 19, 2026 · 2 min read · Tristan Manalac Read more BiomXMarch 20In an effort to cut back on spending, Israel-based BiomX laid off a “significant” portion of its staff in December, the company announced in its annual report filed March 19.The staff cuts came after BiomX in December discontinued its multi-phage cocktail BX004, in accordance with the recommendations of an external data monitoring committee. The biotech had been developing the asset in a Phase 2b study for cystic fibrosis linked to chronic Pseudomonas aeruginosa infections. Responding to the data panel’s feedback, BiomX at the time conducted its own analysis of the trial and found “unexpectedly high rates of adverse events,” leading to the decision to drop the asset.Also on March 19, BiomX CEO Michael Oster issued a letter to shareholders outlining other cost-cutting measures,. He noted that the biotech is “actively evaluating opportunities to reposition the Company toward sectors benefiting from strong global demand for advanced technologies.”While Oster didn’t commit to such a pivot yet, he did offer “defense-related applications” as an example of what BiomX could move into.Bicycle TherapeuticsMarch 18Bicycle Therapeutics is laying off around 30% of its staff amid a broader strategic reprioritization initiative, the biotech announced in its 2025 financial report on March 17. Bicycle had 288 full-time employees as of Dec. 31, 2025, according to its annual report, meaning that this latest round of retrenchment could impact around 86 people.A company spokesperson confirmed the number of affected employees, telling Fierce Biotech that around 200 employees will remain at Bicycle after the reorganization.Alongside a March 17 earnings report, Bicycle announced that it will be putting its lead asset, the cancer drug zelenectide, on the backburner after the FDA told the company that one of its ongoing studies for the asset “is no longer considered acceptable as an approval path.” Bicycle had been hoping to submit a data package for zelenectide in metastatic urothelial carcinoma.As part of the deprioritization, Bicycle will also end two Phase 1/2 studies for zelenectide: one in breast cancer and another in non-small cell lung cancer.INOVIOMarch 16As INOVIO approaches what could potentially be its first commercial launch, the Pennsylvania biotech has axed jobs “that don’t directly support our primary goal of advancing INO-3107 toward US approval,” according to a March 13 announcement.It remains unclear how many employees were affected by the move, or when the layoffs took effect. BioSpace has reached out to INOVIO for clarification but has yet to hear back. The company had 134 full-time employees as of Feb. 14, 2025, according to its 2024 annual report. This headcount had been whittled down to 112 by March 11, 2026, according to the most recent annual SEC filing. This suggests that around 16% of the INOVIO was laid off.INO-3107 is an investigational DNA immunotherapy that helps the body launch an immune response against HPV-6 and HPV-11. The molecule is being proposed for the treatment of recurrent respiratory papillomatosis, a rare condition of the respiratory tract. The FDA’s decision is expected on or before Oct. 30, according to the March 13 release.Vistagen TherapeuticsMarch 12To conserve cash while prioritizing clinical trials for nasal spray candidate fasedienol, Vistagen Therapeutics has trimmed about 20% of its workforce, the company disclosed in a March 11 SEC filing. The cuts took place March 5.The South San Francisco, California–based biopharma had 59 employees as of Dec. 31, according to its most recently quarterly report, meaning the layoffs may have affected around 12 employees.Vistagen recently faced a challenge in its work to advance fasedienol, created for acute treatment of social anxiety disorder. The company in December announced that its PALISADE-3 Phase 3 trial did not show a statistically significant improvement on the primary endpoint of reduced anxiety compared to placebo. Vistagen is now focused on the PALISADE-4 Phase 3 trial and expects topline results in the first half of the year, according to the March 11 filing.As of Dec. 31, the company had cash, cash equivalents and marketable securities of $61.8 million, down from $77.2 million as of Sept. 30. While Vistagen expressed doubt in its recent quarterly filing that the $61.8 million would fund operations beyond 12 months, it now expects its cash runway will extend into 2027, according to the March 11 filing.EvotecMarch 12Evotec’s ongoing strategic reorganization will claim up to 800 posts, according to a March 11 announcement, as the German biotech continues to streamline its operations and plot its growth in the coming years.Evotec has 14 sites worldwide, all of which will be affected by the layoffs, the biotech said, adding that it is still in the process of downsizing its global footprint, with the goal of slimming down to 10 offices in the next two years. The company expects to record the initial effects of this reorganization effort in the back half of 2026, with the initiative substantially complete by the end of 2027.Evotec also presented its preliminary 2025 financial results on March 11, touting unaudited group revenue of around €788 million, or roughly $909 million.Reckitt BenckiserMarch 12U.K.-based Reckitt Benckiser will terminate 62 employees from its U.S. office in Parsippany, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) Act alert for the state. The layoffs started March 2 and will run through Aug. 31.Reckitt Benckiser makes Mucinex, an expectorant that helps ease chest congestion. The company in 2025 reported £10.234 billion ($13.68 billion) in core earnings, a 5.2% increase year-on-year, according to its full-year earnings report. Mucinex had a difficult year, absorbing a mid- to high-single-digit sales decline.Reckitt Benckiser last laid off staff in April 2025, parting ways with 190 employees at the Parsippany site.Horizon TherapeuticsMarch 11Amgen subsidiary Horizon Therapeutics is letting go of 22 employees from its Rockville, Maryland site, according to a Worker Adjustment and Retraining Notification (WARN) Act alert. The layoffs will take effect on May 8.Amgen first moved to acquire rare disease specialist Horizon in late 2022 for $26.4 billion and, after a brief challenge from the Federal Trade Commission, closed the transaction in October 2023. That same month, Amgen laid off 350 employees from the newly acquired subsidiary, eliminating roles that overlapped with existing posts at the parent pharma, a company spokesperson confirmed to BioSpace at the time. F5 TherapeuticsMarch 11San Diego startup f5 Therapeutics is folding, according to a LinkedIn post by CEO Gary Choy, who wrote that “the past few years have been brutal for early-stage biotech.” Choy had been working on f5 for six years. It is unclear how many people will be affected by this closure, though the company’s LinkedIn page indicates it has fewer than 10 employees.The biotech was working on molecular glues developed using its proprietary NExMod platform, which uses phenotypic screening to search for novel targets for previously undruggable conditions, according to f5’s website. Before shutting down, f5 had identified 11 potential targets that aren’t yet being pursued by other companies.Funding for young platforms has been at “multi-year lows,” Choy said in his post, adding that “dozens of startups” have already been forced to shutter their operations “despite strong science.” Vertex PharmaceuticalsMarch 9Vertex Pharmaceuticals has kicked off a “functional reorganization” initiative that will involve the termination of 20 employees in Massachusetts, Fierce Biotech confirmed with a company spokesperson on March 6. As of Dec. 31, 2025, Vertex employed around 6,400 workers, according to its annual report.The company last trimmed its headcount in June 2025, parting ways with 140 employees across its Rhode Island operations. These layoffs came after Vertex consolidated its three sites in Providence into just one facility.Vertex has been having trouble getting its gene therapy Casgevy off the ground. In 2024, only 64 patients received the therapy across its sickle cell and transfusion-dependent beta thalassemia indications. Things could be looking up for Casgevy, however, with Vertex CFO Charles Wagner expecting that uptake of the gene therapy “will ramp up nicely [this year] compared to 2025.”AlltrnaMarch 6In a bid to move quickly to clinical development, Alltrna is letting go of 19 employees, representing around 35% of its current headcount. The move, a company spokesperson confirmed to Fierce Biotech on March 5, will help “position Alltrna for success as we accelerate toward the clinic with our first engineered tRNA drug candidate.”Alltrna will have 36 employees left after the layoffs, Fierce reported. Based in Massachusetts and founded by Flagship Pioneering, Alltrna is working on tRNA-based medicines, which, according to its website, have the potential to treat all diseases caused by a premature termination codon. Its most mature program addresses genetic liver diseases including phenylketonuria and urea cycle disorders.The biotech last laid staff off in August 2025, parting ways with eight employees as it similarly sought to realign resources as it approached the clinic.BayerMarch 5With its annual report now out, Bayer’s 2025 cuts have come into focus. The Germany-based pharma shed about 4,700 employees, dropping from 92,815 staffers on Dec. 31, 2024, to 88,078 at the end of last year. The bulk of the cuts happened in the first nine months, as the company’s Q4 employee count (88,078) was down by around 400 compared to Q3 (88,502).The slowed pace of layoffs was expected. During a Q3 earnings call in November, Bayer CEO Bill Anderson said that moving forward, he anticipated that cuts would continue but described them as “incremental.”The pharma began significantly downsizing its workforce in early 2024, after Anderson noted disappointment in business performance and the company debuted a new operating model that included a restructuring initiative.According to the 2025 annual report, last year Bayer’s personnel expenses dropped by €726 million, or about $842 million. The average number of employees dropped year over year in every functional area: production (-3,559), marketing and distribution (-1,518), research and development (-800) and general administration (-553).EveryONE MedicinesMarch 5EveryONE Medicines has decided to close up shop. An anonymous source told Endpoints News that the biotech found the FDA’s recent bespoke framework for personalized medicines insufficient and challenging to work with to commercialize treatments for exceedingly small patient populations, the outlet reported March 3.BioSpace has reached out to EveryONE for comment.The regulator last week released draft guidance designed to help drugmakers that are advancing personalized genetic medicines, potentially clearing an easier path to market. Under these new recommendations, the FDA has suggested that companies should clearly elucidate the underlying biologic cause of a disease and develop their drug candidate to target this pathway. Company closure Bespoke Startup EveryONE Folds 1 Week After Plausible Mechanism Guidance While an anonymous source tied the closure to shortcomings in the FDA’s new pathway, a spokesperson for the Department of Health and Human Services pushed back on the suggestion. March 4, 2026 · 2 min read · Tristan Manalac Read more Theravance BiopharmaMarch 4Theravance Biopharma is winding down its R&D operations and laying off half of its staff in an effort to drastically stanch its spending after the disappointing outcome of its Phase 3 CYPRESS study in neurogenic orthostatic hypotension in patients with multiple system atrophy.The sweeping restructuring will take place over the next two months, the biotech announced in a March 3 release, adding that it expects to absorb around $5 million to $7 million in one-time costs, linked primarily to severance payments. Theravance estimates that its cost-cutting measures will lower operating expenses by 60% relative to 2025 levels, generating around $60 million to $70 million of annualized cash flow starting in the third quarter.CYPRESS tested Therarvance’s norepinephrine reuptake inhibitor ampreloxetine and found that the drug candidate failed to significantly hypotension in patients. The drug also failed key secondary endpoints including blood pressure, heart rate and norepinephrine levels.BioAtlaMarch 3As it explores strategic options, San Diego–based BioAtla is cutting about 70% of its workforce, retaining only those employees essential to its strategic review.The news, announced March 2, comes less than a year after BioAtla cut 30% of its staff, a move meant to help the business extend its runway into the first half of 2026, according to a March 2025 SEC filing. The biotech, which develops biologic antibody therapeutics to treat solid tumors, was also looking to optimize expenses “to support development of its prioritized programs and set the Company up for long-term success.”Strategic options the company is exploring include selling its five preclinical-stage and four clinical-stage assets as well as striking licensing transactions or strategic partnerships, according to the announcement. Layoffs BioAtla Axes 70% of Staff, Explores Strategic Options Less than a year after cutting roughly 30% of its employees, BioAtla is letting go of an even larger chunk of its workforce as it considers its future, which could include strategic partnerships and selling off assets. March 2, 2026 · 1 min read · Angela Gabriel Read more MerckMarch 2Merck is trimming its Durham, North Carolina, headcount by 154 employees: 147 staff will be laid off from the pharma’s site on Old Oxford Road, while seven workers will be let go from the Rodolphe Street location, according to a Worker Adjustment and Retraining Notification (WARN) Act posting for the state.The layoffs follow Merck’s decision to stop using the Old Oxford Road facility to produce its Gardasil and Gardasil 9 vaccines “because of the recent worldwide reduction in demand for the product,” according to the pharma’s WARN letter sent to state authorities, according to reporting from Business North Carolina. Merck opened the $1-billion facility in March 2025.The pharma last whittled down its workforce in July 2025, announcing at the time that it would lay off around 6,000 employees, or around 8% of its global headcount. Days earlier, Merck revealed that it would lower cash burn by $3 billion through 2027 in an effort to fund the launches of more than 20 products. Disc MedicineMarch 2After the surprising rejection of its bitopertin for a rare blood disorder, Disc Medicine is implementing a restructuring initiative that will leave around 20% of its employees jobless, the biotech revealed in a Feb. 26 SEC document. This change, according to the securities filing, will help “better align the Company’s workforce with its near-term strategic priorities.”Operations primarily involved in commercial and supportive functions will be hit hard, Disc said, adding that it will complete the layoffs in the second quarter. Disc will absorb around $2 million in one-time costs in accordance with the restructuring initiative.Disc had proposed the use of bitopertin to treat erythropoietic protoporphyria, a rare disorder that manifests as extreme and painful sensitivity to sunlight. Analysts found the denial to be unexpected, given that bitopertin in October 2025 received the Commissioner’s National Priority Voucher, a ticket granted to companies that align with certain national priorities and which can shorten the review period from the typical 10-12 months to 1-2 months. In December last year, however, reports circulated that the FDA’s biologics chief Vinay Prasad was skeptical of bitopertin.ViatrisFeb. 26Following a strategic review initiated in 2025 and shortly after a fire at a manufacturing facility in India, Viatris has announced a restructuring that involves laying off up to 10% of its global workforce. The company expects to primarily complete the cuts within the next three years.Headquartered in the U.S. with global centers in Pittsburgh, Shanghai and Hyderabad, India, Viatris operates in more than 165 countries and territories and has more than 30,000 employees, according to a November SEC filing. That means the layoffs could impact up to 3,000 people across multiple departments that the company identified in its announcement, including its research and development, manufacturing and commercial teams.Viatris is projecting the cuts’ potential savings will land between $600 million and $700 million. Most of those savings should improve operating cash flow, according to the company.In other February news, the mid-February fire affected a service area at Viatris’ oral solid dose manufacturing facility in Nashik, India, according to the announcement. The company has temporarily suspended manufacturing at the site but expects to start back up in April.Bristol Myers SquibbFeb. 23The cuts keep on coming at Bristol Myers Squibb, which plans to trim its Lawrenceville, New Jersey headcount by 247, according to a Work Adjustment and Retraining Notification (WARN) alert for the state. The layoffs will run from May 21 through the end of the year.BMS has two offices in Lawrenceville: its corporate headquarters and a campus for R&D, product development, commercialization and supply. It is unclear if both sites will be affected.The pharma has enacted several rounds of layoffs over the past year, many of which have affected its New Jersey workforce. In February last year, for instance, two cycles of headcount reductions left 290 employees jobless, which the company followed by laying off 516 more in May that year.In June 2025, 68 more New Jersey workers were laid off and were soon followed by 282 others in September that year. CatalentFeb. 23Contract manufacturer Catalent is also continuing to trim down its workforce, this time putting 93 jobs at its Harmans, Maryland location on the chopping block. A Work Adjustment and Retraining Notification (WARN) posting for the state noted that the layoffs will take effect on March 19.Catalent last retrenched staff in November last year, letting go of 77 people from its gene therapy operations in Maryland. A few months earlier, in August, the company terminated 350 employees, likewise from its gene therapy unit, Fierce Pharma reported at the time. The layoffs, a spokesperson told Fierce, were “due to an unexpected shift in demand from a large customer.” The representative didn’t identify this customer.These layoffs come after Catalent was completely absorbed by Danish giant Novo Nordisk in late 2024. The acquisition, announced February that year, was valued at $16.5 billion.Concerto BiosciencesFeb. 18An unspecified number of employees at Concerto Biosciences will lose their jobs as the company changes its business focus, according to a statement a spokesperson sent to BioSpace via email. The representative declined to specify how many people would be affected or when the layoffs will take effect.“Concerto has made a strategic decision to focus new discovery and development work on consumer products and applications,” the statement read. “As part of this strategic shift, we have reorganized and reduced the size of our team to better align our resources with the consumer focus.”Concerto develops medicines based on microbes. In October 2025, the biotech’s atopic dermatitis candidate ENS-002—which contains three skin-derived and non-pathogenic bacterial strains—led to improvements in eczema symptoms and suppressed levels of Staphylococcus aureus on the skin.Faraday PharmaceuticalsFeb. 18Seattle-based Faraday Pharmaceuticals is winding down operations, the company announced on its website. It is unclear how many people will lose their jobs due to this move, but the biotech’s LinkedIn page has nine associated members listed.CEO Steve Hill revealed on his own LinkedIn profile that Faraday’s lead asset FDY-5301, failed a Phase 3 study in ST-elevation myocardial infarction late last year. The drug, a proprietary formulation of sodium iodide, neutralizes reactive oxygen species in the body, in turn suppressing ischemia injuries, according to the company’s website.In the late-stage study, FDY-5301 failed to significantly lower the frequency of cardiovascular mortality or heart failure versus placebo.Ultragenyx PharmaceuticalFeb. 13Ultragenyx Pharmaceutical is rolling out a strategic restructuring initiative to reduce cash burn, in the process parting ways with 10% of its employees, or approximately 130 people, according to a Feb. 12 news release. The layoffs have already begun and are expected to be “substantially completed” in the first half of this year, the biotech said in an SEC filing.The move, according to Ultragenyx, will help keep it on track as it works toward profitability in 2027. The company expects the restructuring to translate into at least a 15% decrease in R&D and general expenses in 2027 compared with 2025 levels, according to the press announcement. Ultragenyx nevertheless expects to absorb $50 million in expenses to carry out the realignment initiative.Late last year, Ultragenyx reported that its investigational antibody setrusumab, also called UX143, failed to significantly lower the rate of fractures in two Phase 3 osteogenesis imperfecta studies, wiping some $1 billion in the biotech’s value in the readout’s aftermath. The company at the time mentioned the possibility of expense reduction measures, though it did not provide details.Seres TherapeuticsFeb. 12Seres Therapeutics will lay off about 30% of its workforce as part of a pipeline refocusing initiative. The move, along with other cost cuts, should extend the company’s cash runway through the third quarter, the Cambridge, Massachusetts–based biotech announced today.Seres had 103 employees as of Dec. 31, 2024, according to its most recent annual report. That means the layoffs could affect around 31 staffers.The biotech is pausing additional investment in a Phase 2 study for SER-155 in patients undergoing allo-hematopoietic stem cell transplantation (HSCT) and shifting operational focus to high-value, earlier-stage pipeline programs, according to the press release. However, it will continue seeking funding for the SER-155 study.Seres said that the SER-155 program had advanced its understanding of how microbes in the gastrointestinal tract modulate pathways at the mucosal barrier-immune interface associated with inflammatory and immune-related diseases. As a result, the company will now prioritize advancing programs including SER-603, which targets inflammatory and immune indications such as ulcerative colitis, Crohn’s disease, and immune checkpoint related enterocolitis (irEC).GenentechFeb. 9Last year, Roche subsidiary Genentech terminated more posts across its operations than had previously been thought. A Worker Adjustment and Retraining Notification (WARN) alert from the state of California, posted Feb. 4, revealed that 141 employees were laid off across the pharma’s operations.Roche, however, filed the WARN notice in June last year, and the layoffs took effect in August that year. In a statement to Fierce Biotech on Feb. 6, a spokesperson for the company said that the delay in posting was due to a glitch in the system. The WARN posting also listed that the headcount reduction was at Genentech’s DNA Way, South San Francisco, but the spokesperson clarified that staff across various departments and sites were affected.Since these layoffs took effect in August, Genentech has enacted another round of workforce cuts, affecting 118 people across its South San Francisco location.Charles River LaboratoriesFeb. 6Contract researcher and manufacturer Charles River Laboratories is shutting down a cell therapy site in Hanover, Maryland, Endpoints News confirmed with a company spokesperson on Feb. 5. The closure will affect 20 employees, according to a Worker Adjustment and Retraining Notification Act posting for the state.The facility was “not a strategic fit” for Charles River, the spokesperson told Endpoints, which led to the decision to close it down. Client work at the site will be moved to the company’s other facilities, which the group plans to complete by the end of the second quarter. The employee terminations will take effect on March 23, 2026.Charles River did a similar staff clean-up early last year. Its most recent cycle of layoffs, according to a BioSpace tally, were in April 2025, which affected 13 people in Maryland. In February that year, the company downsized its cell and gene therapy operations in Tennessee, laying off an unspecified number of workers. A few weeks earlier, Charles River shut down a facility in North Carolina, leaving 31 employees jobless. Thermo Fisher ScientificFeb. 6Thermo Fisher Scientific, a manufacturing and research services provider, is winding down operations at its production plant in Franklin, Massachusetts, Endpoints News confirmed Feb. 5 with a company spokesperson. The shutdown will leave 103 people unemployed, according to a Worker Adjustment and Retraining Notification Act alert.The site closure reflects changes in “current customer demands,” the spokesperson explained, adding that affected staff will be moved to other Thermo Fisher facilities in the state. The layoffs will run from Dec. 31, 2026 through Dec. 31, 2027.Thermo Fisher likewise trimmed its headcount in early 2025, parting ways with 300 employees across its Cambridge and Plainville sites in Massachusetts. In November 2024, the company also terminated 160 staff from these two locations, as well as from Lexington.GSKFeb. 3Up to 350 people across GSK’s U.S. and U.K. workforces could lose their jobs as the pharma reorients its investments with its priorities, according to a Feb. 2 report from Fierce Biotech, which confirmed the layoffs with a company spokesperson.The layoffs are expected to affect fewer than 70 individuals in the US, and fewer than 50 in the UK, according to Fierce. “We’re investing in technology to maximize our scientific capabilities and drive productivity, and in our key R&D sites over the next five years to accelerate drug discovery and research,” the spokesperson told the outlet, noting that alongside these investments, GSK is aligning its resources with these priorities “and making sure we have the right people in the right teams.”The final number of affected employees can still change, the spokesperson said.GSK’s previous major round of layoffs came in July 2025, which left 150 employees from its Cambridge, Massachusetts site jobless. That same month, the pharma also trimmed its global R&D headcount. The exact number of employees terminated was not disclosed, though Fierce at the time reported that only a “very limited” number of posts were removed. GSK again reduced its workforce in October 2025, removing eight employees from its San Francisco, California campus.IO BiotechFeb. 2IO Biotech is enacting a “significant reduction” in its workforce as part of a broader “cost-containment and cash conservation effort,” according to a Jan. 30 news release. In an SEC document filed the same day, IO revealed that it has also “notified” chief medical officer Qasim Ahmad that his tenure would end effective Feb. 15.The Danish biotech, which has operations in New York and Maryland, did not specify how many employees will be let go. Worker Adjustment and Retraining Notification postings were not posted for these areas. As of June 30, 2025, IO had 78 full-time employees, a number it trimmed in September that year after laying off 34 workers. As part of its restructuring initiative, IO expects to absorb around $2.4 million to $2.6 million in one-time costs, primarily due to severance fees and other employee benefits, according to its regulatory filing. The biotech did not indicate how much it expects to save or when the terminations will take effect, noting only that these staff cuts will help it explore strategic alternatives.Correction (Feb. 2): This entry has been updated to clarify the number of employees that IO had in September of last year, as well as the language the company used in revealing that its CMO would no longer be with the company. Bitterroot BioFeb. 2California company Bitterroot Bio is likewise launching a restructuring initiative that will leave an unspecified number of employees jobless—including CEO Pavan Cheruvu, according to his LinkedIn post dated Jan. 29. It remains unclear when these layoffs will take effect and how much the company expects to save from the restructuring.Bitterroot had previously been working on an investigational immunomodulatory protein called BRB-002, which works by targeting CD47 to modulate macrophages and remove plaques. The asset was being developed for atherosclerotic cardiovascular disease, for which the biotech launched a Phase IIa study in Australia last June.Now, however, it appears that Bitterroot is pulling back from this program. In his post, Cheruvu wrote that “even with flawless execution, biology doesn’t always go according to plan,” adding that the company will revert to its “focus on discovery biology and translational research.”Gilead SciencesJan. 29Gilead’s operations in Oceanside, California, is once again getting hit with staff cuts as the pharma plans to let go of 34 employees at this site, according to a Worker Adjustment and Retraining Notification posting. The layoffs will take effect on March 27, according to the notice.The Oceanside location supports Gilead’s clinical manufacturing and process development, according to the company’s website. Last year, the campus endured two layoffs. The first hit came in June 2025 and affected 36 people, with their terminations effective in August. In November that same year, Gilead again pruned Oceanside’s headcount, letting go of 17 employees who were effectively booted earlier this month.Gilead had another round of layoffs earlier in 2025, with the pharma axing 149 employees in April, affecting scientific and technical staff at its headquarters in Foster City, California.TakedaJan. 19Takeda is laying off 243 employees across its U.S. operations, an effort that will heavily affect its neuroscience commercialization teams.The layoffs will impact staff that work remotely, Boston Business Journal reported Jan. 16 after confirming the news with a Takeda spokesperson. Around 190 people working as neuroscience sales specialists will lose their jobs, while the cuts will also affect neuroscience sales representatives and neuroscience district business managers.Takeda has already filed a Worker Adjustment and Retraining Notification (WARN) Act notice with Massachusetts, which the Journal viewed. As of this writing, the state’s online portal for WARN postings lists Takeda’s layoffs affecting three people in Cambridge, with an effective date of Jan. 14. The spokesperson, however, told the Journal that impacted staff were notified on this date, and their actual termination will occur later this year.The layoffs will also affect employees across several U.S. states, including Texas, California, Ohio and Tennessee, according to the Journal.The spokesperson told the media outlet the workforce reduction was part of a “strategic decision” to help the company navigate its upcoming loss of exclusivity for Trintellix, a major depressive disorder drug. That decision also includes “reprioritizing resources to prepare for multiple potential new medication launches in the U.S.”Vedanta BiosciencesJan. 19Vedanta Biosciences “significantly” reduced its headcount to maintain progress and focus resources on a Phase III study of oral drug candidate VE303 for recurrent Clostridioides difficile infection (rCDI), the company told BioSpace. The biotech did not state how many people it let go. However, an anonymous former employee said Vedanta cut 50% of its staffers and furloughed 45%.The biotech also laid off staff in August, letting go of 20% of its workforce and likely leaving around 92 employees, based on BioSpace calculations. That means the latest cuts may have affected around 46 people.For more details, read the article.Lyra TherapeuticsJan. 14After a rocky late-stage road for its rhinosinusitis drug, Lyra Therapeutics has finally decided to throw in the towel and lay off all 28 of its remaining employees.In a news release on Jan. 12, the Massachusetts biotech announced that it would no longer push forward with LYR-210, a sinonasal implant designed to deliver an anti-inflammatory drug continuously for six months. The asset was being trialed for chronic rhinosinusitis (CRS). In May 2024, LYR-210 failed the Phase III ENLIGHTEN 1 study, unable to significantly improve nasal obstruction, nasal discharge and pain or pressure, as compared with placebo.The investigational implant vindicated itself in June last year, however, with a Phase III win in the ENLIGHTEN 2 study. Patients treated with LYR-210 experienced significant improvements in these three cardinal symptoms of CRS.But Lyra appears to not have enough money to take LYR-210 any further. As of Sept. 30, 2025, the company had $22.1 million in cash, cash equivalents and short-term investments—only enough to keep the lights on into the third quarter of 2026, according to its Monday release. Following the layoffs, only Lyra’s CEO and chief financial officer will remain with the company as consultants to seek out strategic alternatives. EMD SeronoJan. 14EMD Serono, the U.S. division of Merck KGaA, is parting ways with an undisclosed number of employees, Fierce Biotech reported on Jan. 13, after confirming the news with a company representative. The layoffs will affect research staff at the company’s offices in Durham, North Carolina.In April last year, Merck KGaA acquired Connecticut-based cancer specialist SpringWorks Therapeutics for $3.4 billion. The acquisition closed in July that year, bringing the desmoid tumor drug Ogsiveo into the Merck KGaA fold. Ogsiveo made $172 million in 2024 and has the potential to expand into other rare cancers, such as ovarian granulosa cell tumors and relapsed/refractory multiple myeloma.The company’s latest round of layoffs is part of its efforts to streamline operations after swallowing SpringWorks, the spokesperson told Fierce.SonomaBioJan. 13SonomaBio is letting go of an undisclosed number of employees in an effort to extend its cash runway through 2027 and potentially into 2028, a company spokesperson has confirmed to BioSpace in an email.The spokesperson declined to specify how many people would be affected by the workforce reduction, revealing only that staff at its headquarters in San Francisco as well as those in Seattle and working remotely would be impacted. The company has notified all affected employees. Some roles “will transition immediately,” the spokesperson noted, while others will be given “short transition periods,” depending on business needs.The restructuring push will help reduce cash burn, giving the biotech enough time to expand its Phase I protocol for lead asset SBT-77-7101 in rheumatoid arthritis. Interim first-in-human data in October last year showed that four of six treated patients achieved at least a 50% reduction in the number of swollen and tender joints—“encouraging data,” the spokesperson told BioSpace.Rampart BioscienceJan. 12 Rampart Bioscience has reportedly ended its quest to develop DNA-based therapies that don’t use viral vectors for delivery.The closure, broken by Endpoints News Jan. 8 after speaking with two former employees, appears to have officially happened the week prior, though no public announcements were made. Rampart also quietly downsized twice last year, one source added. Rampart’s website is no longer responsive, and its LinkedIn page has been taken down.For more details, read the article. InflaRxJan. 12InflaRx is cutting approximately 30% of its employees in a bid to streamline its spending and pour more of its resources into its immunology headliner izicopan.To accompany the layoffs, InflaRx will also pull money from its investigational antibody Gohibic, according to a press announcement Jan. 8. Gohibic was authorized for the treatment of COVID-19 in hospitalized patients under the FDA’s emergency use pathway. In March last year, InflaRx pulled the plug on a late-stage study of Gohibic in pyoderma gangrenosum, a rare skin disease, after the asset disappointed in a late-stage study.For more details, read the article.Tessera TherapeuticsJan. 8A month after announcing a partnership with Regeneron to advance its lead gene editor, Tessera Therapeutics has disclosed it will lay off 90 employees. Endpoints News first reported the cuts.A Tessera spokesperson told Endpoints the organizational changes reflect a pipeline prioritization to advance the Somerville, Massachusetts–based gene editing company’s lead programs in alpha-1 antitrypsin deficiency (AATD) and sickle cell disease to the clinic.The layoffs will include one employee in Colorado and another in Washington, as well as 82 in Somerville, according to Worker Adjustment and Retraining Notification (WARN) Act notices in those states. Tessera noted that it expects to start the cuts March 8, and no facilities will close.Several employees told Endpoints the layoffs will affect about 35% of the workforce. The cuts follow a 17% reduction in 2025 and 13% downsizing in 2024.On Dec. 1, Tessera announced it had formed a $275 million partnership with Regeneron to advance TSRA-196, Tessera’s in vivo gene editor for AATD. The one-time therapy was created to restore the production of functional AATD, a protein that, under healthy conditions, protects the lungs from autoimmune damage.Editor’s note: BioSpace updated this entry Jan. 12 to add the number of employees affected in Somerville, which a Massachusetts WARN notice revealed after this entry’s original publication.Nido BiosciencesJan. 2Nido Biosciences will shut down early this year, Endpoints News reported following the biotech’s LinkedIn announcement. The Massachusetts-based company did not state how many employees the closure will affect, but a spokesperson told the media outlet the business had a handful of staffers.According to Nido, results for a Phase II clinical trial of NIDO-361, its lead candidate for patients with spinal and bulbar muscular atrophy, fell short of expectations. With the drug no longer a clinical candidate, the company stated, it will cease operations.Founded in 2020, Nido launched in 2023 with $109 million in series A, series B and seed financing to develop new small molecules for neurological diseases. Investors included Eli Lilly.Looking for more data from 2025? Please visit the 2025 recap article. Twitter LinkedIn Facebook Email Print Bankruptcy Layoffs BioSpace Editorial Staff