Jason Meyenburg, Gemini CEO

A year in­to SPAC merg­er, Gem­i­ni re­struc­tures pipeline with 20% of staff, lead­er­ship on the chop­ping block

Gem­i­ni Ther­a­peu­tics jumped to Nas­daq in a SPAC deal about a year ago, but on Tues­day an­nounced a sig­nif­i­cant change in di­rec­tion.

The biotech will un­der­go a cor­po­rate re­struc­tur­ing to fo­cus on its clin­i­cal stage can­di­dates, drop­ping all re­search and dis­cov­ery pro­grams and lay­ing off 20% of its staff, it said in a Tues­day morn­ing re­lease. Gem­i­ni will at­tempt to repo­si­tion it­self to bet­ter fund a piv­otal study for its ge­o­graph­ic at­ro­phy pro­gram, dubbed GEM103.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.