At least 10 biopharma companies have notable layoffs since the beginning of the month.
Tag Archive for: job cuts
A Pfizer spokesperson confirmed the headcount reduction to the Fox TV affiliate in West Michigan, adding that it is also part of the company’s cost-cutting initiative to better position it for improved revenue performance in the future.
Sangamo Therapeutics is shuttering its Brisbane, California headquarters and cutting its U.S. workforce by approximately 40% of its total headcount.
In its fourth round of layoffs this year, the California-based biopharma company is letting go of 350 former Horizon Therapeutics staff whose roles overlap with existing positions at Amgen, according to reports.
The layoffs, set to take effect in late November, will impact about a third of Reata’s headcount. The workforce reduction comes just months after Biogen’s $7.3 billion Reata buy.
According to the company, the portfolio realignment will allow Sana’s current cash runway to extend further into 2025 while also providing leeway for investments in clinical capabilities across various indications.
Among the recent layoffs: The Labor Day long weekend began on a sour note for more than half of the employees at Maryland–based NexImmune. The biotech, which is developing immunotherapies for cancer, autoimmune and infectious diseases, announced it will lay off approximately 53% of its staff, turning a workforce of 47 full-time employees into one of just 22 as of September 5.
The company said it will prioritize the development of its drug BXCL501, which is being evaluated for use in at-home settings for treatment of agitation related to schizophrenia, bipolar disorders and in patients with mild-to-moderate dementia due to probable Alzheimer’s disease.
Regulatory rejections and clinical trial failures are forcing biopharma companies to restructure in an effort to save costs.
