Choppy waters threaten once promising biotech start-ups
Two more American biotech companies have been forced to announce plans to restructure, including mandatory redundancies, to avoid looming financial trouble.
The sector has undergone a challenging period for financing, with tech stocks having softened since record highs in 2021.
In more recent periods, high profile biotech firms including Finch Therapeutics (Nasdaq: FNCH) and bluebird bio (Nasdaq: BLUE) have announced plans to lay off staff in a bid to cut costs and extend cash runways.
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