Julian Adams, Gamida Cell CEO

As sirens blare on biotech pub­lic mar­kets, small cell ther­a­py play­er Gami­da plans to axe 10% of staff

With biotech on a ma­jor slow­down and fund­ing dried up, small biotechs are hav­ing to scram­ble to cov­er their bot­tom lines. In the case of a small Boston cell ther­a­py play­er, that means some jobs will be on the fir­ing line.

Gami­da will ter­mi­nate 10% of its staff as part of an ef­fort to ex­tend its cash run­way for a planned fil­ing for cell ther­a­py omidu­bi­cel with the FDA, the biotech said Mon­day.

Those cuts will ac­com­pa­ny a hir­ing and spend­ing freeze the com­pa­ny plans to put in­to ef­fect as it hopes to keep the lights on through the mid­dle of 2023, Gami­da said. Shares in $GM­DA were trad­ing up around 5% ear­ly Mon­day.

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