NightHawk lays off 14% of R&D workforce, pivots to focus on CDMO Scorpius Biomanufacturing
NightHawk Biosciences laid off 14% of its workforce in R&D in order to focus on its contract development and manufacturing organization (CDMO), just a little over a month after the company’s CEO said it was continuing its R&D activities and was “highly encouraged” by preclinical data.
The decision to lay off 13 employees was made after the board of directors approved a “refocus and restructuring plan” to axe “non-core assets” and reduce operating costs, as NightHawk builds up its CDMO Scorpius Biomanufacturing, the company said in SEC filings Tuesday.
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.