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.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.