Shares of Orchard Therapeutics fell in trading after the company announced a new strategic plan that includes the shift in clinical focus, the shuttering of a proposed manufacturing facility in California and the termination of 25 percent of company staff.
Following a setback with the company’s experimental major depressive disorder medicine in December, SAGE Therapeutics will initiate a corporate restructuring that includes halving the drug manufacturer’s employee headcount in order to focus resources on the development of the product pipeline.
Cambridge, Massachusetts-based Unum Therapeutics announced a restructuring in order to shift assets toward the company’s preclinical program, BOXR1030, for solid tumors.
Amgen filed a Worker Adjustment and Retraining in California with plans to cut 172 jobs at the company’s headquarters and U.S. field operations effective December 31, 2019.
Dublin, Ireland-based Alkermes is acquiring Boston-based Rodin Therapeutics for $100 million up front and up to $850 million in milestone payments.
Amgen filed a Worker Adjustment and Retraining (WARN) filing with the Commonwealth of Massachusetts, indicating the company planned to lay off 149 employees effective December 31, 2019.
Merck will slash about 500 jobs in early 2020 at two Montgomery County, Pa., facilities as well as in some other states, Pennsylvania’s Morning Call reported.
Indianapolis-based Eli Lilly announced the closing of the company’s Surrey, U.K.-based Erl Wood neuroscience research center by the end of 2020, affecting 270 staffers.
Five Prime Therapeutics Inc. will eliminate 70 jobs while undergoing a restructuring to extend the company’s cash runway.
Less than one month after filing for bankruptcy, uBiome is shutting the Bay Area microbiome company’s doors and selling off assets.
