Kate Hermans, Ambrx Biopharma interim CEO

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.

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