ARTICLE | Finance
No sleep for the biotech bear: Restructurings abound in August
At least 20 companies have trimmed pipelines, cut staff or otherwise re-jiggered strategies in past two weeks to extend runway
August 15, 2024 1:16 AM UTC
Updated on Aug 17, 2024 at 1:53 AM UTC
At least 20 companies have announced restructurings so far in the first two weeks of August, as the biotech tech bear market reminds executives that it has yet to go into hibernation and priorities shift, demand for some products dwindles and clinical programs blow up.
The list includes three gene therapy companies: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), Precigen Inc. (NASDAQ:PGEN) and uniQure N.V. (NASDAQ:QURE). ...