As mar­ket stays cold, biotechs con­tin­ue to cut pro­grams, tri­als and staff

April show­ers bring few dol­lars. Fol­low­ing the shut­down of Sil­i­con Val­ley Bank, which many biotechs re­lied on, tough mar­ket con­di­tions con­tin­ue to bat­ter the in­dus­try, forc­ing com­pa­nies to make tough de­ci­sions.

The in­dus­try has been in this crunch for over a year now, putting more and more star­tups in sur­vival mode. Fac­ing shrink­ing cash re­serves, an­oth­er slate of biotech com­pa­nies are lay­ing off work­ers and wind­ing down clin­i­cal pro­grams, per an­nu­al re­ports re­leased Mon­day and Tues­day.

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