Bear market forces Scholar Rock, potentially years away from pivotal SMA data, to lay off a fourth of its staff
Another biotech is feeling the pain of the seemingly everlasting bear market, reporting layoffs and a shakeup in the C-suites late Monday.
Darkhorse SMA player Scholar Rock said in its first quarter SEC report that it’s planning to lay off 39 people, reducing its overall headcount by 25%, and noted CMO Yung Chyung will step down by the end of June. Execs enacted the layoffs to prioritize its two clinical-stage programs and extend its cash runway through the end of next year, the company said.
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