On the heels of FDA rejection, tiny Zosano cuts about a third of its workforce as latest victim of the budget axe
Numerous companies have been axing staff lately, such as Athenex Wednesday cutting staff and Flexion buyer Pacira laying off 110 employees earlier this month. And Thursday, the layoff wave continued, with a tiny Fremont, CA migraine-focused pharma finding itself the budget axe’s newest victim.
Zosano Pharma announced in its Q4 and FY2021 financial results Thursday that it would lay off roughly a third of its staff. The company didn’t say much at all about the downsizing, revealing only a “reduced workforce by approximately 31%” in a list of recent business updates.
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