Tom Hallam, Palisade Bio CEO

Pal­isade Bio is the lat­est to re­struc­ture, hun­ker­ing down on its lead pro­gram

Like so many oth­er biotechs in the bear mar­ket, Pal­isade Bio is look­ing to play the re­org game and lay off parts of its staff.

The Carls­bad, CA-based biotech an­nounced on Thurs­day that it will be putting a se­ries of mea­sures in place to “re­duce op­er­at­ing ex­pens­es and pre­serve cap­i­tal.” Pal­isade Bio CEO Tom Hal­lam said in a state­ment that due to cur­rent mar­ket con­di­tions, and to en­sure that it push­es for­ward in de­vel­op­ing its lead can­di­date, 20% of the work­force will be let go.

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.