De­spite $109M in­flux in Au­gust, Green­Light Bio­sciences brings out the axe to chop a quar­ter of its staff

As staff re­duc­tions romp across the in­dus­try, the RNA R&D and man­u­fac­tur­ing com­pa­ny Green­Light Bio­sciences is the lat­est to bring out the axe.

The com­pa­ny said Wednes­day it is re­duc­ing staff by 25% as part of a wider re­align­ment. The de­ci­sion aims to have Green­Light fo­cus on “near-term val­ue dri­vers” as well as al­low for more cash in its pock­et.

Green­Light al­so de­tailed that it will in­te­grate its “plat­form team” in­to re­spec­tive teams for plant and hu­man health, ne­ces­si­tat­ing a staff re­duc­tion. Ac­cord­ing to a state­ment from a Green­Light spokesper­son, de­spite the com­pa­ny rop­ing in $109 mil­lion in fi­nanc­ing in Au­gust, the cur­rent mar­ket con­di­tions ne­ces­si­tate the need to ex­tend cash and repri­or­i­tize.

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