Bear mar­ket hits an­oth­er small cap biotech as Ahmed Hamdy's Vin­cerx cuts a third of staff

The biotech bear mar­ket con­tin­ues to put pres­sure on small and mid-cap com­pa­nies, with an­oth­er start­up un­der­go­ing a shift.

Can­cer-fo­cused biotech Vin­cerx re­vealed it would lay off 33% of its staff Mon­day af­ter­noon as part of an ef­fort to get its lead pro­gram through two Phase I stud­ies. The move comes a lit­tle less than two years af­ter Vin­cerx went pub­lic via a SPAC, and af­ter its stock $VINC has fall­en more than 80% in 2022.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER