Shares of vTv Therapeutics climbed in trading on December 7 after the company announced plans to restructure and reduce head count by 65 percent in order to ensure funding for a Phase III trial for lead diabetes program TTP399.
Zymergen announced that the company is letting go about 220 employees after deciding to restructure and discontinue its consumer care and electronics film programs, among others.
Raytheon Technologies’ top boss warned on Oct. 26 that the U.S. aerospace and defense firm will lose ‘several thousand’ employees who refused to take Covid-19 vaccines, as the company prepares to meet the Biden administration’s Dec. 8 deadline for immunization.
Michigan-based Esperion on Oct. 18 announced a plan to reduce the company’s overall workforce by 40 percent and significantly decrease operational expenses in fiscal years 2021 and 2022 to optimize long-term growth.
Gemini Therapeutics announced Oct. 5 that the company is reducing employee headcount by 20 percent and ceasing some research and non-clinical programs as part of a corporate restructuring effort to focus on a clinical trial for geographic atrophy.
Less than a month after appointing a new chief executive officer, Ziopharm Oncology announced a restructure that resulted in more than 50 percent of the company’s workforce being axed.
Shares of Theravance Biopharma rapidly declined after the company announced a Phase III cardiac drug failed to meet the study’s primary endpoint and a significant shift in its R&D efforts that resulted in a 75 percent staff termination.
After receiving a Complete Response Letter (CRL) from the U.S. Food and Drug Administration for the New Drug Application for tenapanor for control of serum phosphorus in adults with chronic kidney disease on dialysis, Waltham, Mass.-based Ardelyx is restructuring to save money.
Eli Lilly is cutting 163 jobs by closing its Dermira facility in Menlo Park, Calif. and selling off the latter company’s sweat drug Qbrexza, which is being acquired by Journey Medical.
DBV Technologies unveiled a global restructuring plan that will result in a reduction of more than 200 jobs.
