Biotech lay­offs con­tin­ue as Am­brx cuts staff and part of its pipeline to ex­tend its cash

It’s been no se­cret that this year has been rough for biotechs and em­ploy­ees, as com­pa­nies have been cut­ting costs and head­counts through­out the year. Wednes­day’s news shows that the trend is, un­for­tu­nate­ly, con­tin­u­ing.

San Diego-based biotech Am­brx an­nounced that it is re­or­ga­niz­ing its pipeline and cut­ting around 15% of its staff to ex­tend its cash re­sources. Ac­cord­ing to the com­pa­ny’s most re­cent an­nu­al re­port to the SEC, filed last De­cem­ber, Am­brx had around 81 em­ploy­ees.

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