Less than two years after nine-figure IPO, Applied Molecular Transport cuts back on staff, pipeline efforts
Another day, another biotech undergoing a significant shift thanks to the bear market.
Wednesday’s victim is Applied Molecular Transport. This morning the San Francisco-based biotech said it would lay off 52 employees and eliminate three other positions following resignations to reduce its workforce by 40%. The firm is also changing up its main focus to hone in on its lead program, effectively hitting the pause button on other pipeline candidates.
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