Feb­ru­ary freeze hits biotech as com­pa­nies cut staff, thin pipelines and merge to sur­vive

Biotech mar­ket con­di­tions have been frigid for over a year now. Com­pa­ny af­ter com­pa­ny has laid off staffers, thinned out pipelines, and a num­ber have even shut down.

Thurs­day morn­ing, a new round of merg­ers, staff cuts, and strate­gic re­views hit the sec­tor.

While the in­dus­try has been un­der pres­sure for some time, the lat­est round of changes is a sign that more and more com­pa­nies are run­ning low on cash. These biotechs are mak­ing tough de­ci­sions to keep their drug pro­grams alive in a mar­ket where new cap­i­tal is hard to come by.

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