Lyn­dra lays off 23% of work­ers, to out­source man­u­fac­tur­ing as it ap­proach­es piv­otal read­out next month

Lyn­dra Ther­a­peu­tics is let­ting go about 23% of its work­force as the Boston-area biotech seeks to trim op­er­a­tional costs ahead of a piv­otal tri­al read­out for a week­ly ver­sion of the schiz­o­phre­nia drug risperi­done, a spokesper­son for the com­pa­ny told End­points News.

The biotech had about 120 em­ploy­ees in June when then-pres­i­dent and op­er­at­ing chief Jes­si­ca Ballinger told End­points the com­pa­ny was eye­ing $180 mil­lion in a Se­ries D fi­nanc­ing to gear up for a 2025 NDA fil­ing and po­ten­tial launch in 2026 of the longer-act­ing schiz­o­phre­nia med­ica­tion, named LYN-005. Ballinger was pro­mot­ed to CEO a month lat­er.

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.

Senior Associate

Alexandria Real Estate Equities

Durham, NC, USA