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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