Ab­sci lays off staff as it looks to re­or­ga­nize amid stock falloff, bear mar­ket

Van­cou­ver, WA-based Ab­sci ap­peared to be rid­ing high af­ter net­ting greater amounts of fund­ing and even grab­bing a deal with Mer­ck in re­cent months, but now it ap­pears to be in a state of re­or­ga­ni­za­tion as the com­pa­ny is bring­ing out the bud­get axe.

Ab­sci CEO Sean Mc­Clain re­leased a state­ment on Tues­day an­nounc­ing the lay­offs.

“As the founder of this com­pa­ny, I was deeply im­pact­ed by this de­ci­sion, and I, to­geth­er with the ex­ec­u­tive lead­er­ship team and board of di­rec­tors, did not take it light­ly. The peo­ple of Ab­sci have been, and al­ways will be, the lifeblood of the com­pa­ny. To those im­pact­ed by to­day’s events, I would like to thank each and every one of you for your pas­sion and com­mit­ment to our goal of bring­ing bet­ter drugs to pa­tients,” Mc­Clain said in the state­ment.

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