
Context Therapeutics trims pipeline, cuts down on spending to conserve cash
To survive the current market conditions, Philadelphia-based Context Therapeutics has resorted to cost-cutting, a hiring freeze and pipeline pruning.
The company, which develops treatments for breast and gynecological cancers, is hoping that the new measures will help it sustain itself until the end of Q1, 2024.
“We were hoping that things would get better over the course of 2022, however, in our estimation, they’ve gotten more challenging for biotech,” Martin Lehr, CEO of Context Therapeutics, told Endpoints News.
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