An­oth­er mi­cro­cap biotech plots ma­jor job cuts as in­dus­try sharp­ens its axe amid slow­down

Amid biotech’s ug­ly start to the year, you can bare­ly throw a stone with­out hit­ting a bad head­line. Now, an­oth­er mi­cro­cap firm is gut­ting its work­force to help keep the lights on.

Uni­ty Biotech­nol­o­gy will cut its work­force by 50% as it looks to pave its cash run­way out to 2023 with mid-stage da­ta on its lead eye drug still in the wind, the com­pa­ny said Thurs­day.

The cuts will pri­mar­i­ly hit the biotech’s Dis­cov­ery Re­search unit and will amount in to­tal to 34 jobs sliced away, Uni­ty said.

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