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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