Another biotech grabs the axe, chopping R&D in a major reorganization as drug sales disappoint
Heron Therapeutics has been sorely tested in its transition from an R&D company to a commercialization focus, losing 70% of its market cap $HRTX in Nasdaq’s storm-tossed waters since the beginning of the year.
Now it’s time to shake things up in the interest of buying itself more time, joining the downsizing movement in the midst of a bear market. And the axe is falling primarily on R&D.
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