Mark Smith, Finch Therapeutics CEO
Bear market shows no signs of abating, claiming Finch Therapeutics as the latest layoff victim
Much ink has been spilled over the continuing wave of layoffs hitting the biotech industry, and that doesn’t look to be stopping anytime soon.
Finch Therapeutics reported Tuesday morning that it would be laying off 37 staffers, or approximately 20% of its workforce, per an SEC filing. The decision to cut costs comes about a month after Finch said the FDA had placed a treatment for C. difficile infections on partial clinical hold, and roughly three weeks after pausing its hepatitis B program.
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