An­oth­er biotech that went pub­lic in pan­dem­ic boom aims to weath­er the bear mar­ket through R&D cut­backs

The bear mar­ket is show­ing no signs of let­ting up, with a French biotech that IPO’ed dur­ing the pan­dem­ic boom feel­ing the heat.

Nanobi­otix, a French biotech fo­cus­ing on new treat­ments for can­cer, is cut­ting back on pre­clin­i­cal re­search and amend­ing some of its on­go­ing stud­ies to stay afloat, the com­pa­ny said in its first quar­ter re­port late Wednes­day night. The cuts are aimed at pri­or­i­tiz­ing its lead pro­gram for ad­vanced head and neck squa­mous cell car­ci­no­ma, Nanobi­otix said.

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