Bear mar­ket forces an­oth­er biotech in­to lay­offs, as an­ti­body de­vel­op­er Atre­ca re­duces head­count by more than 25%

An­oth­er biotech felt the chill of the bear mar­ket late Wednes­day, en­gi­neer­ing a round of lay­offs in or­der to stay afloat through the end of next year.

Mi­cro­cap an­ti­body play­er Atre­ca will lay off more than 25% of its work­force to ex­tend its cash run­way through 2023, the com­pa­ny an­nounced Wednes­day, giv­ing it the mon­ey it needs to com­plete the lat­est tri­als for its two pipeline pro­grams. The move comes as Atre­ca ex­pects to read out new da­ta for its lead can­di­date, ARTC-101, be­fore the end of the year.

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